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?
In recent years, America’s digital infrastructure has become a core vulnerability as international conflicts migrate online, and cyberwarfare becomes an ever-present threat to our nation’s security.
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.