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Federal Tax Specialty Services

Taxpayers frequently have unique or transactional opportunities and exposures that are outside normal tax compliance needs. Our Federal Tax Advisory practice assists clients with value-added tax planning and risk management in a constantly changing regulatory and business environment.
300+

Practice professionals specializing in complex tax issues

Passionate

people who have the tailored intelligence you need

Effective

tax rate support to help with permanent tax savings

Tailored federal tax compliance and consulting services for your business needs and strategic goals.

Tax professionals at FORVIS can help you control risk, manage costs, and enhance tax benefits. Between IRS requirements, differing federal and state laws and regulations, mergers, acquisitions, and divestitures, tax planning can become incredibly burdensome and consume a great deal of time and resources. These matters may cause organizations to face a variety of tax issues requiring extra capacity or unique skills beyond what your organization has available internally. 

Successful piloting of the ever-changing federal tax landscape demands the assistance of an experienced, trusted advisor with specific knowledge. Our federal tax professionals help you select and implement strategies that manage risk and promote growth and savings, allowing you to move forward with momentum.

How FORVIS Can Help You

Taxable Income Automation
Taxable Income Automation allows companies to automate their taxable income through a centralized, cloud-based platform.
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TaxCred PRO for NMTC
TaxCred PRO for New Markets Tax Credit is a software-based platform that creates NMTC transaction models in real-time, and could shave time off closing schedules and reduce overall transaction fees.
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TaxCred PRO for Energy Credits
Learn about the clean energy tax credits and deductions your business may be eligible for and how much tax benefit it could potentially receive. Our user-friendly tool simplifies the Inflation Reduction Act discovery process. Coming soon!
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R&D Tax Credits & Incentives

If your company invests in developing new or improved products or processes, you may qualify for the research and development (R&D) tax credit. The R&D credit is a tax incentive that significantly subsidizes R&D investments and is available to many taxpayers. Recent developments have made R&D credits more accessible to companies. In addition, many states have their own R&D credits that further subsidize the cost of investing in R&D.

Our R&D tax credit professionals have engineering, data science, legal research, tax, project management, and audit controversy backgrounds. Our team has deep experience completing studies for different-sized companies—from large multinational corporations to small family-owned businesses. 

We utilize a phased approach that allows our clients to assess the applicability of the R&D credit before committing to an entire study. Our objective is to customize an approach to help achieve results that meet your business needs. That means offering a team with subject matter experience along with the passion and intelligence to help illuminate your path to the future.

New Markets Tax Credit Services

FORVIS can assist organizations as they navigate the complexities of the New Markets Tax Credit (NMTC) Program and with each step of the NMTC life cycle. Whether your organization is a Community Development Entity (CDE), an NMTC investor, or a project seeking funding, the NMTC team at FORVIS can develop a service approach that meets you where you are.

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Accounting Methods & Periods

If managing cash taxes through accelerating deductions or deferring revenue, mitigating risk, improving efficiency, or finding favorable positions in new or existing tax laws and regulations are your business priorities, accounting methods planning gives you options to address your needs.

Our team of tax professionals will help you navigate the complex and evolving procedures of changing accounting methods while working with you to realize the associated benefits. We have experience with different-sized companies across many industries—recognizing and customizing tax planning strategies to your specific tax situation.

The accounting method services we provide focus on many different aspects of taxation, including:

  • Revenue Recognition
  • Uniform Capitalization, (i.e., UNICAP, IRC 263A), Valuation, Identification, & Other Inventory Issues
  • IRC Section 174 – Research & Experimentation Costs
  • Capital Spending & Cost Recovery
  • Prepaid Expenses
  • Accrued Expenses Planning
  • Overall Methods of Accounting, (e.g., Accrual, Cash Receipts & Disbursements) & Special Methods of Accounting, (e.g., Long-Term Contracts)
  • Small Business Methods of Accounting
  • Changes in Taxable Year-End
  • Interest Expense Limitation Planning
  • Merger Integration

Tax Controversy & Procedure

Our team has dedicated professionals who provide guidance and counsel on tax matters before the IRS and other taxing authorities. The Tax Controversy and Procedure team at FORVIS is composed of experienced tax professionals with a wide range of backgrounds, including academia, legal, governmental, and private industry. Through our professionals' knowledge, experience, and dedication, we offer practical advice and tools for navigating examinations, penalty defense, and other procedural issues. We work with our clients to create a course tailored to meet the goals and needs of our clients’ unique tax situations. 

The Tax Controversy and Procedure team is here to provide both proactive and reactive strategies for our clients, including reducing risks to prevent a dispute from arising and representing clients in disputes with the IRS and other taxing authorities. We help defend our clients by skillfully navigating the complex, diverse processes and procedures of the IRS and other taxing jurisdictions. 

Services Offered 

Our team has successfully advocated for our clients on many different topics through a wide range of channels. Our team can assist you or your organization in a variety of matters, including:

  • Examinations, Including IRS Fast-Track Settlement
  • IRS Appeals & Post-Appeals Mediation
  • Private Letter Ruling Assistance
  • Penalties & Collections
  • Risk Assessment for Tax Planning
  • Tax Research
  • Interest Netting
  • Employee Shared Responsibility Payment Assistance
  • Employee Retention Credit (ERC) Exam Defense
  • Other Tax Controversy & Procedural Matters

Cost Segregation Services

Your company’s real property holdings constitute a large capital investment. An engineering-based cost segregation study may provide significant tax savings by accelerating tax depreciation deductions, deferring taxes, and increasing cash flow. Buildings that have been purchased, constructed, renovated, or expanded in recent years may qualify for this powerful tax planning tool. Our cost segregation team can evaluate your fixed assets to help identify cost segregation opportunities and complete the required analysis to claim the benefits and drive your business forward.

Our team of engineers and fixed asset specialists can help identify portions of a building’s cost that can be allocated to shorter depreciable lives. This reclassification allows the building owner to accelerate depreciation, defer income tax, and increase cash flow. 

Our engineers, construction professionals, and accountants stay abreast of the latest rules to identify where your company qualifies for a shorter depreciable life. Other tax services in the fixed asset services arena include fixed asset outsourcing, IRC Section 179D (energy efficient commercial buildings deduction) studies, repairs and maintenance studies, and IRC Section 45L studies. Find out how you could benefit from a cost segregation study by filling in the Contact Us form below.

Employee Retention Credits Services

The Employee Retention Credit (ERC) is available to qualified businesses regardless of size or employee count and can be applied retroactively regardless of whether a Paycheck Protection Program loan has been received. With our tailored intelligence, we can help determine whether your company is an eligible employer, assist with necessary requirements to claim the credit, calculate and document qualified wages, and more. The ERC may help businesses across all industries to receive cash refunds that will help them offset the cost of retaining employees during the COVID-19 pandemic. 

The ERC team at FORVIS has assisted companies of all sizes evaluate eligibility and file for the credit with the IRS. To help drive your business forward, each engagement deliverable is tailored to the client’s specific fact pattern for both eligibility and credit generation with due consideration to the law, published IRS guidance, our IRS exam experience, and our extensive project experience. We offer a team of passionate people who bring the knowledge and skills you need to potentially receive money back from the ERC.

Tax Transformation

Our tax transformation approach begins with an assessment to identify your inefficiencies and pain points. Our dedicated team of people skilled in process design, tax software, project management, and data analytics conducts interviews to help evaluate the efficiency of your tax function. This means we immerse ourselves in your needs and prioritize close collaboration. Whether encompassing the complete tax cycle or a specific work stream (provision, budgeting, compliance, etc.), our tailored assessment produces recommendations prioritized for the needs of your company. After this initial research to identify areas for improvement, we provide you with a transformation road map that is a prioritized list of recommendations, including estimated cost and return on investment for each project. 

Our tax transformation services are customized for your objectives and can empower your organization to experience immediate and measurable results that drive your business forward.

Explore Tax Transformation at FORVIS

Tax Mergers & Acquisitions

Buying, selling, and merging of businesses gives rise to unique tax planning opportunities and responsibilities. Our team of passionate people brings the knowledge and skills you need and can assist with tax issues that occur before, during, and after a transaction. Tax merger and acquisition services include:

  • Tax Structuring
  • Parachute Planning Studies (IRC Section 280G)
  • Transaction Costs Analysis
  • NOL Limitation Calculation & Planning (IRC Section 382)
  • Debt Modification Analysis
  • Bankruptcy Tax Planning
  • Tax Purchase Accounting
  • Transaction Modeling
  • Tax Transaction Reporting & Disclosure
  • Post-Transaction Tax Integration

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