Corporations Failing To Claim Amt Exemption Overpay Taxes By $11,000

Does your incorporated business pay alternative minimum tax [AMT]? If so, there is a 93 percent chance you have been overpaying your taxes by an average of $11,000 a year according to the Treasury Inspector General.

The Office of the Treasury Inspector General for Tax Administration was created in 1999 to oversee the IRS. One of the duties of the Treasury Inspector General is to study and report the efficiency of the tax payment system, particularly the accuracy of tax collection efforts. Many of the studies conducted by the office reveal starting results, particularly when it comes to businesses overpaying their taxes.

As part of this oversight, the Treasury Inspector General is reporting that many small business corporations are incorrectly paying AMT. The AMT was enacted in the late 1990s, but proved to be a huge burden on small businesses. The tax was confusing and the paperwork was incredibly complex. An amendment was subsequently added to give small business corporations relief from the AMT. Section 55(e) of the Internal Revenue Code now contains language exempting small business corporations from paying the AMT.

Small business corporations can claim an exemption from the AMT if gross revenues average $5 million or less for the initial three years of business. Thereafter, the business can continue to claim the exemption as long as revenues average $7.5 million or less of each subsequent three year period.

According to the Inspector General, companies that fail to claim an exemption to the AMT are overpaying taxes by an average of $11,638 each year. 93 percent of small business corporations qualify for the exemption. Since the IRS has no duty to notify taxpayers of overpayments, many small business corporations have no idea they are overpaying taxes and are due refunds.

All taxpayers have the right to file amended tax returns for the past three calendar years. If you failed to claim the AMT exemption, you may be due a refund totaling over $33,000.

Asia Pacific Pharma Sector Analysis

RNCOS has recently added a new Market Research Report titled, Asia Pacific Pharma Sector Analysis to its report gallery. The Asia-Pacific region is emerging as the fastest growing pharmaceutical industry in the global pharmaceutical arena. In the recent years, the demand for healthcare services has risen among the regions populations. According to our new research report, the low operating costs and skilled manpower continue to attract pharmaceutical companies towards Asia Pacific, which is now emerging as a powerhouse of pharmaceutical Research & Development (R&D). The future of the industry in the region remains bright, and is projected to grow at a compound annual rate of around 10% during 2012-2015.

The report, Asia Pacific Pharma Sector Analysis, finds that the market growth will mainly be driven by factors, like changing regulatory environment, increasing disposable incomes, rising prevalence of lifestyle diseases, and significant developments in the field of contract manufacturing, particularly in APIs. On studying the pharmaceutical market in each country, we observed that mature markets such as Japan and Australia are experiencing slower growth rates, while emerging as new market leaders, China and India are enjoying investments by foreign pharmaceutical companies. South Korea and New Zealand are relatively small markets, with the growth limited by the size of these island nations. We have also studied the market scenario in Indonesia, Thailand, the Philippines, Malaysia and Vietnam.

We also found out why the Asia-Pacific region is emerging as a new destination for the generic drugs industry. As per our findings, the western countries face the issue of poorly defined regulatory pathways, and a few Asian countries are well positioned to benefit from these changes, attracting huge investments by generic companies. The OTC sector in the region has also been expanding rapidly. The study of other emerging trends revealed that the growing market for vaccines and medical tourism is giving new dimension to the regions pharmaceutical industry. Though Asia-Pacific is emerging as a right place for the drug-related research, the region lacks IPR regime. The report provides in-depth information about regulatory environment and key market players in each country. This way, our research work aims at presenting a fair picture of the industry to clients.

For FREE SAMPLE of this report visit:

Some of our Related Reports are:

– Global Telemedicine Market Analysis ()
– Personalized Medicine Market Analysis ()
– Global Regenerative Medicine Market ()
– Emerging Pharmaceutical Markets Globally()
– Booming Clinical Trials Market in India ()

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RNCOS specializes in Industry intelligence and creative solutions for contemporary business segments. Our professionals analyze the industry and its various components, with a comprehensive study of the changing market behavior. Our accuracy and data precision proves beneficial in terms of pricing and time management that assist the intending consultants in meeting their objectives in a cost-effective and timely manner.

Top Ways To Revise Economics This Easter

There are two things guaranteed to make young people feel sick at Easter. One is eating too many Easter eggs, the other is thinking about the looming summer exams. An obvious remedy, of course, is for the nation’s teenagers to take to their rooms and embark upon a rigorous programme of Easter Revision. However, for those pupils who don’t quite have the stomach for a diet of solid study, here are some alternatives that their parents might care to consider:

1 Contact Exam Confidence for Home Tuition for an economics revision course

There’s no avoiding teacher’s eye, so any gaps in the young candidate’s knowledge banks are going to be easily spotted. The Institute of Education says students who have private maths tuition in the two years before GCSE achieve roughly half a grade higher than their untutored counterparts. We offer good value home tuition as an as economics revision course, so feel free to contact us at . The Exam Confidence has two learning centres providing as economics revision course, on top of its all-year-round fifth- and sixth-year courses. The website Easter Revision Courses Finder ( offers a region-by-region breakdown.

2. Go on a revision holiday
Some of Exam Confidences Easter Revision courses are residential (swot in the day, relax at night). “We’ve got people travelling a long way to attend our courses, so it makes sense to provide meals and accommodation,” says Richard Riddell,”There’s increasing pressure on pupils not just to gain A-grades, but to gain A-stars.”

3. Be prepared to spend
Prices start at 400 for a 16 hours over two days to 490 for a residential course with Exam Confidence , at the City of London School for Girls and Seaford College in West Sussex. The Easter Revision courses do not come cheap, but they’re hundreds of pounds, as against the many thousands a private education would cost.

See the details of our economics as revision course for Easter Revision:

AQA – Unit 1 Markets & Market Failure; Unit 2 The National Economy
Edexcel – Unit 1 Competitive Markets; Unit 2 Managing the Economy
OCR – F581 Markets in Action; F582 The National & International Economy
If you book onto an economics revision course with us today, we can guarantee the following:

Step-by-step revision & exam techniques that are proven to work;
Exam success strategies broken down
Opportunities to practice skills using materials which are exam board specific and unit specific;
Small class sizes so there is plenty of personal attention from the teachers;
A reusable take-home collection of all course notes to review throughout the school year;
Homework and mock exam feedback to build confidence and reduce potential exam anxiety;
A pre-attendance questionnaire so we are able to pinpoint the areas for you to focus on for maximum results;
16 hours of focused and tailored revision;