The IRS updated its research tax credit FAQs (Frequently Asked Questions) on Feb. 8, 2022, pertaining to additional requirements for research tax credit refund claims. The three updates (FAQs 13, 14 and 15) provided by the IRS shed guidance on [...]

The Employee Retention Credit (ERC) was instituted in 2020 to make it easier for employers to keep their employees, despite all the challenges presented by COVID-19. The ERC can be a significant reward for qualified businesses. For those that are [...]

Back in October, the IRS added additional requirements for taxpayers filing amended research credit claims beginning on January 10, 2022. In a January 3, 2022, memo, the IRS provided interim procedural guidance for applying the new requirements for research credit [...]

As 2021 winds down, there have been significant changes throughout the year surrounding the R&D Credit on both the State and Federal level. We have compiled a list of ten changes and potential upcoming changes to note heading into 2022. [...]

The IRS announced on Oct. 15 that beginning in January 2022, specific minimum requirements will be in place for taxpayers seeking a research tax credit claim for refund. The Chief Counsel Memorandum that was released is designed to manage research credit issues [...]

Accounting firms serve as a trusted advisor to their clients. When clients come to them looking for answers on items they aren’t familiar with, such as the R&D Credit, the goal is to get them the right answer. Because accounting [...]

Every year, the IRS releases its Dirty Dozen, which is a list of common scams taxpayers may encounter as they prepare their returns or hire people to help with their taxes. For the sixth time in the past seven years, “Improper [...]

Government contractors have often asked the question, “can my R&D activities within my government contracts be included in my R&D Credit?” The common answer they hear is “no,” and this information can cost companies significant dollars to their bottom line [...]

TWO ITEMS TO CONSIDER WHEN BUYING R&D TAX CREDITS The R&D Credit is one of the most impactful benefits for companies that are improving products, processes, and software in the U.S., and it still remains one of the most [...]

First established in the early 1980’s, the R&D Credit was created to keep high-paying, technical jobs in the United States at a time in which those jobs were being moved overseas. Fast forward 40 years and the tax credit is [...]