Research and Development Tax Credit Studies Archives

Understanding the Tax Relief for American Families and Workers Act of 2024

The House Ways and Means Committee approved The Tax Relief for American Families and Workers Act of 2024, symbolizing a legislative victory for taxpayers, especially small business owners and professionals. This proposed legislation deserves a detailed look due to its…

The Section 41 R&D Tax Credit Reporting Requirements: Preparing for New Form 6765

Proposed changes to Form 6765 Credit for Increasing Research Activities, also known as the Section 41 research credit or R&D tax credit, are expected to become effective beginning with tax year 2024. The changes to the form, which include the…

IRS Releases Substantive Guidance on the Treatment of Research and Experimental Expenditures Under Section 174

On September 8, 2023, the IRS released pre-regulatory guidance concerning the requirement to capitalize and amortize specified research and experimental (SRE) expenditures under Internal Revenue Code Section 174, as revised by the 2017 Tax Cuts and Jobs Act (TCJA). Notice…

Easing The Pain of Research & Experimental (R&E) Expenditure Capitalization

The new Section 174 rules require taxpayers to capitalize and amortize R&E costs incurred in taxable years beginning on or after Jan. 1, 2022. Amortization is calculated using a straight‐line recovery period of either five years for costs incurred in…

What businesses need to know about the recent Research and Development changes

Written by: Leah Belanger, CPA, MSA The world of tax law is constantly shifting, creating challenges and opportunities for businesses. One recent change that has generated considerable confusion and debate involves alterations to tax incentives for Research and Development (R&D)…

Do You Know How to Navigate the New IRS Requirements for R&D Tax Credit Claims?

Written by: Jonathan Yorks, CPA While the new research and development tax credit requirements went into effect on January 10, 2022, which require more detailed proof that claims are valid, many businesses seeking the refund may face extra work when…

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Understanding How the R&D Tax Credit Can Offset Payroll Taxes

Start-ups and small businesses customarily incur expenditures that may qualify for Research & Development (R&D) tax credits, but generally, these businesses don’t have the taxable profit needed to take advantage of the credit. Qualifying small businesses can apply all or…

Category: Research and Development Tax Credit Studies