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...
On Thursday, 12/11, Senate Leader Harry Reid indicated he wanted a vote on the tax extenders including the R&D tax credit and many other expired provisions during this session of Congress before the break. The order of priority was passing a bill to keep the...
Under new IRS Regulations issued this week (T.D. 9666), taxpayers can now claim the R&D tax credit using the alternative simplified credit method, or ASC on amended tax returns. Previously this election to claim the ASC for R&D credits had to be made on...
In an overwhelming vote of 271 to 131, the House of Representatives passed a bill making the R&D tax credit permanent, rather than continuing to extend the R&D credit for 2 year periods which has been the norm for many years. Interestingly, the bill did not...
R&D Tax Credit 2014 Update: The Senate Finance Committee last week passed a tax extenders bill that included the R&D tax credit. The research credit would be extended under this bill for 2014 and 2015 and included a key aspect for flow through companies...
