IRS Extends Deadline for R&D Tax Credit New Form 6765
If your business takes advantage of the Research and Development (R&D) Tax Credit you'll want to pay close attention to the latest announcement from the IRS. The agency is making important adjustments to its reporting requirements—specifically regarding Form...
IRS Issues Rev. Proc. 2025-28 Small Business and Section 174 Expensing of R&D Costs
On August 28, 2025, IRS issued Rev. Proc. 2025-28 relating to the R&D tax credit and R&D expenses under Section 174. Under this new procedure, if you qualify as an Eligible Small Business (gross receipts average of less than $31 million for the period...
R&D Expensing Allowed Again – OBBB Act Passed July 2025
On July 4th, 2025 the President signed into law the One Big Beautiful Bill (OBBB) Act which has many positive aspects for the R&D credit and R&D expensing; notably, the key changes are: The OBBB Act brings significant changes to how businesses can handle...
ERC Compromise Reached – OBBB One Big Beautiful Bill Act July 2025
Congress reached essentially a compromise last week when the One Big Beautiful Bill Act passed and was signed into law. The prior amendment barred any ERC claims filed after January 31, 2024 but the bill which passed last week and became law would still allow ERC...
IRS Clarifies Income Tax Handling of ERC Refunds – Employee Retention Credit
Last week, the IRS has provided crucial guidance on how to properly handle ERC refunds and disallowances, especially for closed tax years, simplifying the process for affected taxpayers who claimed the ERC but were waiting for their refund prior to making adjustments...
IRS Revamps Form 6765, Bringing Significant Changes to R&D Credit Reporting Sec. 41 Research Credit Form
Research Credit changes with new IRS Form 6765 R&D Tax Credit
Preparing for New Form 6765 R&D Tax Credit
Although the new Form 6765 R&D tax credit/research credit form is technically not mandatory until tax year 2025, many of our clients are preparing for these changes which are summarized below In 2024, the IRS released a revised Form 6765, which introduces...
Sec. 174 R&D Amortization after the Election?
Likely no tax bill will be passed until after the 2024 Presidential election, but there is evidence that both parties support deferring or eliminating the amortization of R&D costs, currently 5 years for domestic R&D and 15 years for foreign research costs....
IRS Announces New R&D Tax Credit Form 6765
The IRS has released a revised draft of Form 6765, Credit for Increasing Research Activities for the R&D tax credit, incorporating feedback from external stakeholders to reduce taxpayer burden and improve tax administration of the R&D credit. Key changes...
New Bill would allow Deduction of 174 R&D Expenditures
Jan 2024 - In a new bi-partisan bill introduced this week, Congress would again allow immediate expensing of domestic R&D research and development costs, a change from last year’s requirement that 2022 costs must be amortized which kicked in as of 2022 as part of...
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