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 [...]

While businesses are looking for ways to increase profitability and cash flow, and reduce tax liability throughout the year, it becomes more of a top-of-mind issue as the calendar rolls towards the tax filing deadlines in March and April.   Companies [...]