IRS Rejects Process R&D Credit Claim
Another tax court case, another taxpayer loss; new fears.
By Patrick Donahue
Union Carbide Corporation v. Commissioner was litigated to determine if Union Carbide’s process development and improvement projects qualified for the IRC §41 tax credit. |
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More R&D Jobs and New Technologies Right Around the Corner?
Senate Finance Committee Introduces Bill to Make the Research Tax Credit Permanent
By David M. Hull, CPA
A bill was introduced on June 8 by Senate Finance Committee Chairman Max Baucus (D-Mont.) and Orrin Hatch (R-Utah), the ranking Republican on the committee. The bipartisan bill, S.1203, has a title that aptly explains the effort, “A bill to amend the Internal Revenue Code of 1986 to extend the research credit through 2010 and to increase and make permanent the alternative simplified research credit, and for other purposes”. |
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