by Bruce Warner | Sep 27, 2024 | Blog
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....
by Bruce Warner | Jun 24, 2024 | Blog
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...
by Bruce Warner | Jan 20, 2024 | Blog
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...
by Bruce Warner | Jun 11, 2023 | Blog
IRS Issues Guidance on Section 174 – No Form 3115 for 174 R&E Costs: Rev. Proc. 2023-11 has been issued by the IRS, offering simplified procedures for the first taxable year starting after December 31, 2021 (so calendar year taxpayers’ year 2022). Instead of...
by Bruce Warner | Nov 3, 2022 | Blog
The IRS recently proposed changes to the R&D tax credit form to better administer research credits going forward as of the 2023 tax year. These changes to Form 6765 Credit for Increasing Research Activities are still in the planning stages and IRS is seeking input...
by Bruce Warner | Jul 29, 2022 | Blog
The Inflation Reduction Act of 2022 introduced in the Senate yesterday, July 28, 2022, will expand and extend the 45L Energy Efficient Home Tax Credit. The bill extends the 45L energy credit for 10 years, through 2032 and retroactively extends for this year 2022. The...
