Often, the exercise of an IRS audit falls solely on the Tax Department. Although this is typical for financial audits, this should not be the case for specific Research and…
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We research to innovate, to improve upon current technologies, and to learn and gain a better understanding of products and processes. The Research Tax Credit (RTC) rewards a taxpayer’s effort…
The Internal Revenue Service (IRS) allows the taxpayer to capture only the amount of an employee’s wage that is allocated to performing qualified services. If the employee is performing both…
A common question most clients face is “What documents do I need in case I get audited by the IRS?” While the IRS doesn’t specify exact documents required, a Taxpayer…
The Issue Many times, the source of qualified research expenses (or QREs) for research tax credit studies is found from investigating Profit & Loss (P&L) or GL accounts. This approach…
What is our three-pronged approach to R&D Tax Credit claims? No matter what the industry or experience, when we bring in complementary disciplines and work together to build off each…
Congress recently passed a very favorable extension and expansion of the Employee Retention Credit (ERC). This initiative is a huge help for taxpayers who have seen or continue to…
Tax Court Alert – On January 11, 2021 the United States tax court granted summary judgment in favor of the IRS in the case of Tangel v. Commissioner (T.C. Memo….
CPA and R&D Tax Credit Expert Tyler Palmer explain how the R&D credit is impacted by PPP Loan Forgiveness as it stands in early November 2020. Sign up for our…
Paycheck Protection Program (PPP) Loans have become an important topic for businesses looking to receive relief during the trying times of 2020. With this loan there is also the forgiveness…