In 2019 alone, nearly $60 billion in R&D tax credits went unclaimed, according to data from the Congressional Research Service. With over $90 billion in total credits available, that’s a shocking amount of lost opportunity.
Are you leaving money on the table when it comes to your federal payroll taxes? Many businesses are unaware that they can leverage research & development (R&D) tax credits to offset a portion of their
It’s no secret that manufacturing companies face a host of tax concerns, but there is a solution. Many business owners are unaware that they are eligible for research and development (R&D) tax credits, which can
A recent lawsuit filed in the U.S. District Court for the Middle District of Louisiana highlights three important questions that every taxpayer should consider before attempting to claim research and development (R&D) tax credits. In
In 2017 the Tax Cuts and Jobs Act (TCJA) included significant tax breaks for taxpayers but often when a bill like this is passed, the question is asked “How will we pay for it?”. And
Taxes in 2023 are going to look a bit different than they have in the past. In addition to newly passed tax law updates, a number of pandemic-era provisions will gradually sunset in the years
Future changes to the way companies can take deductions from research and development expenses may make investing in innovation more difficult, particularly for small businesses and startups. Furthermore, these new regulations may have a negative
IRS Update *** The IRS is extending for another year (through January 10, 2024) the transition period during which taxpayers are provided 45 days to perfect a research credit claim for refund prior to IRS’s final determination on the claim. A recent comment by an IRS official indicating that the agency may extend the … Read more
You may know that life sciences are eligible for federal research and development (R&D) tax credits nationwide—but did you know that New York State offers a life sciences research and development tax credit? New York
U.S. Rep. Jackie Walorski (R-Ind.), a senior member of the House Ways and Means Committee, showed herself to be possibly the biggest champion of R&D tax credits on Capitol Hill. She’s doubling down on them. Recently she