On December 16, 2014, the Senate approved the House bill extending the R&D tax credit for one year (retroactive for 2014). The President is expected to sign the R&D credit and other extenders into law today. Although the one year extension does not provide companies with planning going forward (into 2015), it was beneficial to at least have the R&D credit bill pass in December for 2014 planning purposes. Many in both the House and Senate lobbied for a longer R&D credit extension or even a permanent R&D tax credit which was introduced in a bill earlier this year. Likely this will be a topic into 2015.
Recent Posts
- New Bill would allow Deduction of 174 R&D Expenditures
- Section 174 Guidance for Upcoming Tax Returns
- IRS Proposes Changes to R&D Tax Credit Form 6765
- Bill Introduced in Senate Will Extend 45L Energy Efficient Home Tax Credit for 10 Years
- Congress Defers on 45L Energy Tax Credit in BBB Act until 2022