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What is the R&D Tax Credit? Does Your Small Business Qualify?

  • R&D

Is your business working to enhance the existing products, methods, or software? Are you developing new products and processes as part of your daily operations? Have you customized, integrated or developed products around client specifications?

Manufacturers Beware of Key R&D Tax Credit Changes

With a seemingly endless list of qualifying activities, including scale-up process techniques, along with compatibility and stability testing, manufacturing is consistently one of the top industries claiming the Research and Development Tax Credit (R&D Credit).

New R&D Credit Refund Requirements Create Hurdles

The IRS has added a new layer of complexity for those who intend to claim a research credit refund. Eric Hylton, director of compliance at alliantgroup, discusses how taxpayers are now having to provide more information to the agency to substantiate their refund qualification.

IRS’s New R&D Tax Claim Requirements

Understanding IRS’s New Requirements for R&D Tax Claim

In an attempt to finetune the verification process for R&D tax credit, the IRS has decided to introduce some new requirements for information from businesses availing the claim. In a recent Chief Counsel memorandum, the agency stated that it wants more detailed information about all of the business components for the claims made for that year.

Three Key Tax Incentives for IT Consultants

This year, IT consultants are eligible for powerful tax incentives that can help fund their innovation efforts and keep their technical workers on staff. The $1.9 trillion stimulus package recently enacted by Congress and the Biden Administration has something in it for almost everyone, and IT consultants are no exception.