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English to Italian: Caso di successo - PRAGER METIS identifica 600 mila dollari di crediti d'imposta General field: Bus/Financial Detailed field: Finance (general)
Source text - English Prager Metis CPAs, LLC (PM) and its Italian Desk uncover Over $600K in Tax Credits for a US Client.
Background
Client is the US subsidiary of an Italian Group with over $1Bil in sales.
US Client engages PM for the preparation of the annual US corporate tax returns, providing assistance to the Italian Group’s auditors with the computation of the tax provisions and provides International Tax Planning.
Prior to PM, US Client engaged a local CPA firm in Kentucky to prepare their returns.
During the proposal process, PM and Italian Desk identified several options, including the Federal R&D Tax Credit, which the US Client’s prior returns failed to include.
Upon engagement with the US Client, PM and its Italian Desk immediately assisted the US client with a multi-state nexus and credit review.
The Process
Most companies assume that the tax professional in charge of their returns will uncover all applicable opportunities. This unreasonable assumption makes it vital to communicate the benefits of leveraging a specialist.
PM and its Italian Desk explained to the US Client that this study was an additional service to the tax return compliance and could bring significant value to the Company. They also conveyed that identifying credits and state planning were complicated matters and required a specialist with years of experience in this area.
PM and its Italian Desk were engaged by the US Client and after a few weeks uncovered three opportunities:
1) Federal & State R&D Tax Credits
2) Unclaimed Business Incentives Credits
3) Unclaimed Inventory Tax Credits
The Italian Desk explained the cost-benefit to the client, and they subsequently proceeded with all three projects.
The Results
PM and its Italian Desk worked on all projects concurrently to have the information available for the 2019 tax filing. With the advisor’s support, the US Client yielded:
A $40,000 Federal R&D tax credit.
An $80,000 Kentucky inventory tax credit.
An amendment of historical tax returns to recover $480,000 in missed tax credits.
Translation - Italian Prager Metis International (PM), società di consulenza fiscale internazionale, e il suo "Italian Desk" identificano oltre 600 mila dollari di crediti d'imposta a favore di un cliente statunitense.
Contesto
Il cliente in questione è una filiale statunitense facente parte di un gruppo italiano con oltre $1 miliardo di vendite.
Il cliente statunitense si affida a PM per la preparazione delle dichiarazioni dei redditi annuali della società statunitense, fornendo assistenza ai revisori del Gruppo italiano per il calcolo delle agevolazioni fiscali e per la pianificazione fiscale internazionale.
Prima di entrare in contatto con PM, il cliente statunitense si era rivolto ad una società di consulenza locale in Kentucky per preparare la dichiarazione dei redditi.
Durante la formulazione della proposta, PM e il suo Italian Desk hanno identificato diversi vantaggi fiscali per il cliente, tra cui il credito d'imposta federale per la ricerca e lo sviluppo (R&S); queste opportunità fiscali non erano state precedentemente tenute in considerazione durante il calcolo dei redditi e delle relative imposte.
Una volta che il cliente statunitense ha deciso di affidare l'incarico a PM e al suo Italian Desk, questi ultimi si sono subito adoperati per aiutare il cliente ad identificare rischi ed opportunità fiscali a livello statale.
Il processo
La maggior parte delle aziende presume che il consulente fiscale, responsabile delle loro dichiarazioni dei redditi, sia in grado di conoscere ed individuare tutte le opportunità fiscali applicabili, a livello federale e statale. Questo presupposto non è però corretto e ci fa capire quanto sia importante affidarsi ad uno specialista del settore per trarre tutti i possibili vantaggi fiscali.
PM e il suo Italian Desk hanno dimostrato al cliente il valore aggiunto alla semplice preparazione della dichiarazione dei redditi e hanno evidenziato l’importanza di scegliere uno specialista con anni di esperienza in questo settore.
PM e il suo Italian Desk sono stati incaricati dal cliente e dopo poche settimane hanno individuato tre opportunità fiscali:
1) Crediti di imposta federali e statali per ricerca e sviluppo
2) Crediti derivanti da incentivi statali precedentemente assegnati e non riscossi
3) Credito statale d'imposta sull'inventario non riscosso
L'Italian Desk ha presentato, in primo luogo, il rapporto costi-benefici al cliente e, successivamente, sono stati avviati tutti e tre i progetti.
I risultati
Grazie al supporto della PM e del suo Italian Desk, il cliente ha ottenuto un rendimento di:
· Un credito d'imposta federale per ricerca e sviluppo di $40.000
· Un credito d'imposta sull’inventario di $80.000
· Recupero crediti derivanti da incentivi statali per circa $480.000.
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Translation education
Master's degree - Unimore
Experience
Years of experience: 9. Registered at ProZ.com: Jul 2018.
English to Italian (BA Translation and Interpretation Scuola superiore per Mediatori l inguistici , verified) Italian to English (BA Translation and Interpretation Scuola superiore per Mediatori l inguistici , verified) German to Italian (BA Translation and Interpretation Scuola superiore per Mediatori l inguistici , verified) German to Italian (MA Translation University of Modena and Reggio Emilia, verified) English to Italian (MA Translation University of Modena and Reggio Emilia, verified)
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