Changing IRS Practices: What You Need to Know About Claiming R&D

WHO SHOULD ATTEND:

CEOs, CFOs, Presidents and financial decision makers.

WHEN:

Tuesday, February 26th 2019 from 12:00-1:00 p.m. CT

Please join us for a complimentary presentation as Former IRS Acting Commissioner and alliantgroup National Director of Tax Steven T. Miller and alliantgroup Chief Quality Officer Jeremy M. Fingeret cover how the IRS is cracking down on businesses claiming the R&D Tax Credit, and how companies can avoid an unnecessary audit.

The R&D Credit is a tool that can put significant money back into the pockets of American businesses—but taxpayers claiming the credit need to get it right, which can be difficult to do. The IRS has listed “Excessive Claims for Business Credits” on its Dirty Dozen list of tax scams due to an unusually high number of taxpayers incorrectly, or overzealously claiming the credit.

The agency is also changing its audit practices, and has decided specifically to focus on small to midsized businesses by setting up focus groups to determine exactly how taxpayers are incorrectly claiming the credit.

Here are some of the topics that will be covered during the presentation:

  • Why using a statistical sampling model is important when calculating the R&D Tax Credit
  • How the alternative minimum tax (AMT) has changed under the Tax Cuts and Jobs Act, and its benefits for eligible small businesses (ESBs)
  • How engineers are able to draw a clear nexus between key employee activities and credit qualifications

Now more than ever businesses need to be taking every precaution necessary when claiming the credit, particularly given the recent implementation of the Tax Cuts and Jobs Act and the agency’s focus on the incentive.

About the Presenters:

Steven T. Miller served as former IRS Acting Commissioner in 2012, but prior to that Steven served for several years as the Deputy Commissioner for Services and Enforcement, leading all IRS enforcement and service activity. Steven also served as the Commissioner of the Large and Mid-Size Business Division, overseeing IRS audits of large taxpayers and the IRS programs relating to offshore tax compliance and international tax law enforcement. As the Commissioner of the Tax Exempt and Government Entities Division, he supervised the IRS oversight of governments, tax exempt entities and retirement programs.

Jeremy M. Fingeret is the Chief Quality Officer for alliantgroup. He is an experienced litigation attorney, having handled cases in multiple state and federal courts. Jeremy is licensed to practice law in the state of Texas, the United States Tax Court, the Court of Federal Claims, The U.S. Court of Appeals for the Fifth Circuit, and numerous federal district courts. Jeremy is also an experienced corporate transactional attorney. Prior to joining alliantgroup, Jeremy practiced law at a prominent litigation law firm in Houston.

Have questions or comments? Email education@alliantgroup.com

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