Significant small business tax news: Alliantgroup

IRS sent subpoenas to CPAs who referred clients to a tax shelter seller Alliantgroup regarding R&D tax credits, cost segregation, and IRC Sec 179D, (all are aggressive tax strategies) taken by their business clients from January 1, 2011 to present.

The IRS subpoena reportedly clarifies that Alliantgroup and not the individual business taxpayers who took these deductions is the target of the investigation.

Up to 4,000 CPAs and 27,000 businesses could potentially be involved in the subpoenas, according to the report in GoingConcern, based on information on Alliantgroup web site.