• Treasury Releases Guidance on the Allocation of Research Credits Among Members of a Controlled Group
    By : Categories : R&D,Tax Insight

    On April 2, 2015, the IRS issued TD 9717 regarding the allocation of the federal research credit among members of a controlled group (i.e., corporations and trades or businesses under common control). These new regulations implement the changes made as a result of the American Tax Relief Act of 2012 (Act) and affirms its own…

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  • R&D Tax Credits for Agriculture and Farming
    By : Categories : News,R&D,Recent News

    It may be a surprise to many that food science activities typically associated with agriculture and farming can benefit from the Research & Development (R&D) tax credit. With advances in the food sciences and the challenge of feeding a growing population, those in the agriculture industry have the opportunity to claim and benefit from the…

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  • Treasury Releases Proposed Regulations on R&D Credits for Internal Use Software
    By : Categories : R&D,Tax Insight

    On Friday, January 16, 2015, the Department of Treasury issued proposed regulations regarding the applicability and inclusion of Internal-Use Software as part of the IRC Section 41 ‘Credit for Increasing Research Activities,’ providing increased availability of the research and development tax credit for a greater number of entities, particularly small to mid-sized taxpayers. These proposed…

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  • House on the verge of voting on Tax Extenders including the R&D Tax Credit
    By : Categories : R&D,Tax Insight

    Last week, congressional aides to Senate Majority Leader, Harry Reid (D-NV), and House Ways and Means Committee Chairman, Dave Camp (R-MI), were reportedly nearing a deal to address many of the tax provisions that expired at the end of 2013. The reported value of the deal was in excess of $400 billion. Many of these…

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  • How will the 2014 Midterm Elections Impact tax extenders?
    By : Categories : R&D,Tax Insight

    Not since World War II have Republicans had this large of a majority in Congress. The results from the 2014 midterm election are a staggering blow to Democrats. Prior to the 2014 midterm election, the Democrats had control in the Senate (53 out of the 100 seats with 2 Independents that caucus with the Democrats),…

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  • Research Tax Credit Opportunities for Architects and Engineers
    By : Categories : R&D,Tax Insight

    Although Architecture and Engineering (A&E) firms don’t often claim tax credits, many may be eligible for Federal and state research & development (R&D) tax credits without realizing it. Historically, the R&D tax credit was geared to only benefit large companies; mostly in the manufacturing, software, high-tech and pharmaceutical industries. However, significant changes to the tax regulations…

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  • R&D Tax Credit Now Allows ASC on Amended Returns
    By : Categories : R&D,Tax Insight

    In a surprising, and long overdue modification to the Section 41 Research & Development tax credit, Treasury announced TD 9666 allowing taxpayer’s the opportunity to use the Alternative Simplified Credit (“ASC”) calculation methodology on amended returns in cases where the credit was not previously claimed on a return. Prior to this announcement, the taxpayer’s were…

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  • Regulations TD 9666
    By : Categories : News,R&D

    Today, the Department of Treasury announced regulations TD 9666 that allows companies to claim the R&D Alternative Simplified Credit (ASC) on amended returns. This regulation significantly increases the amount of credit a company can claim. Experts are predicting that this will encourage small and medium size businesses to act and reassess the benefits of claiming…

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  • R&D Tax Credit Update
    By : Categories : R&D,Tax Insight

    The federal tax credit for “increasing research activities” – commonly known as the R&D credit – is one of several “tax extenders” currently being discussed by lawmakers. The credit expired at the end of 2013, but the expectation is that it will be renewed, as it has done consistently since the credit was first enacted…

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  • R&D tax credit webinar Q&A session
    By : Categories : R&D

    The R&D Tax Credit program is one of the most valuable tax credit offered by the federal government, and most state government. If your company is doing any type of R&D, you could save hundreds of thousands of dollars annually in state and federal taxes, up to 10% of your annual R&D costs. KBKG is…

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