Insights

Restore immediate R&D expensing under Section 174A and claim retroactive benefits for 2022-2024 before the July 6, 2026 deadline, including refund opportunities and Section 280C election considerations.

Restore full expensing for domestic R&D costs starting in 2025 under new §174A. ICS Tax helps businesses maximize R&D credits and navigate new IRS documentation rules.

The “One, Big, Beautiful Bill" promises to provide a big deduction for R&D expenditures.

The IRS recently announced several notable changes to the process of claiming the R&D Tax Credit, announcing welcome reductions to requirements for filing amended R&D Credit claims and reduced requirements for the…

The recent MBJ v. Commissioner ruling highlights the important role of contract language in determining eligibility for Research and Development (R&D) Credits.

A recent Tax Court ruling in S Moore v. Commissioner serves as a reminder of the important role documentation plays in supporting claims for research credits.

On Thursday, March 21, the Senate Finance Committee held a hearing on the Biden 2025 Budget Proposal, questioning Treasury Secretary Janet Yellen on various aspects of the proposed budget, with many members noting…

The proposed Tax Relief for American Families and Workers Act of 2024 changes the period for when companies must start the five-year period for the deduction of research and experimental expenditures from tax years…

On September 8, 2023, the Internal Revenue Service (“IRS”) and Department of the Treasury (“Treasury”) released an advance version of Notice 2023-63.

An Internal Revenue Service new release previews proposed changes to certain sections of Form 6765, Credit for Increasing Research Activities, commonly known as the Research & Development (R&D) tax credit. The IRS is…

The IRS announced more requirements are necessary for Research Credit Claims for Refunds. New rules are effective January 10, 2022 with a transition and grace period.

While brewing up signature styles of beer is key to their creators' minds, the Research & Development (R&D) Tax Credit can save the craft brewing industry significant tax dollars where brewers can all say, "Hop Hop…

While the Consolidated Appropriations Act, 2021 clarified that expenditures paid with forgiven Paycheck Protection Program loan proceeds are deductible for federal income tax, the relief may be short-lived for state…

On March 27, 2020, the Coronavirus Aid, Relief, and Economic Security (CARES) Act, was signed into law providing taxpayer favorable treatment of Net Operating Losses ("NOLs") as well as the Paycheck Protection Program…

NOL rules frequently change and are oftentimes not favorable to a taxpayer.

The R&D tax credit has generated over $12 billion dollars annually for companies engaging in research activities.

The R&D Tax Credit for Manufacturers - Don't Scrap the Benefit!

New Tax Court Case Confirms Burden is on Taxpayer to Substantiate Base Period for the IRC §41 Research Credit

While many deductions and credits were repealed by TCJA, the final law preserved the Research and Development ("R&D") tax credit, which was previously made permanent in the Protecting Americans against Tax Hikes ("PATH")…

On September 27, 2017, Donald Trump and the Republican Party released an outline of their tax overhaul plan. While this framework is not law, it shows their vision for both individuals and businesses.