R&D Tax Credit News
Capturing Research Tax Credits in Drug Development
Bringing a New Chemical Entity (NCE) to market is an extraordinarily expensive endeavor. According to a Tufts University study (and validated by many other sources) bringing an NCE to market can now cost upward of $2.5 billion...a 145% increase since [...]
Startup R&D Tax Credit Spotlighted For Lack Of Compliance Procedures
According to a December 19, 2018 Treasury Inspector General for Tax Administration (TIGTA) report, the IRS does not currently have processes in place to identify small businesses that do not meet the eligibility requirements and dollar limitations for claiming the [...]
Wisconsin R&D Credit Now Partially Refundable
Wisconsin Act 59, which was passed in 2017, allows for a portion of the Wisconsin R&D tax credit to be refundable. Effective for tax years beginning on or after January 1, 2018, the refundable portion is the lesser of 10% [...]
Savings for Start-ups – The R&D Tax Credit
For start-ups, tax filing season can feel like an unnecessary formality and waste of time. For ventures still generating Net Operating Losses (NOLs), taxable income seems like a far-off concern to be dealt with another day. Unfortunately, start-ups with this [...]
ASC 730 Notice
LB&I Directive - Guidance for Allowance of the Credit for Increasing Research Activities for Taxpayers that Expense Research and Development Costs on their Financial Statements pursuant to ASC 730, September 11, 2017 This directive from the Large Business & International [...]
Payroll Tax Notice
Notice 2017-23 -Interim Guidance, Election by Qualified Small Business to Claim Payroll Tax Credit for Increasing Research Activities, March 30, 2017 This notice from the IRS provides interim guidance for making the payroll tax credit election under Section 41(h). This [...]
TCJA Dec 2017
Tax Cuts and Jobs Act, H.R. 1 December 22, 2017 Summary of the Impact of Tax Reform on the Research Credit: Section 280C benefit increased Due to the corporate tax rate cut from 35% to 21%, the election to reduce [...]
Stefan Wilson Announces Hull & Knarr as Indianapolis 500 Sponsor
Stefan Wilson Announces Hull & Knarr as Indianapolis 500 Sponsor — read more.
Final Research Credit Regulations Issued for Internal Use Software
Final regulations were published on October 4, 2016 relating to the research credit for internal use software development. These final regulations apply a majority of the rules proposed in January of 2015. The final regulations should provide guidance to resolving [...]
Minnesota Updates Form for 2015
The Minnesota form for the Credit for Increasing Research Activities, Schedule RD, has changed effective for the 2015 tax year. The current method of calculating the Minnesota credit has not changed. However, an entirely new section of the form, requesting [...]
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