IRS Now Requires Supporting Documentation to be Filed with Research Credit Claims

As we previously reported in a recent post, the IRS Chief Counsel published a memorandum on October 15, 2021 regarding the documentation needed in order to successfully support a claim under the IRC Section 41 Investment Tax Credit for Increasing Research Activities. That section is widely known as “The Research Credit”. The Chief Counsel memo […]

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Response to Office of Chief Counsel Internal Revenue Service Memorandum Number 2021410F

New IRS Rules — We’ve Got Your Back! On Friday, October 15, 2021, the IRS released a 22-page memo, Office of Chief Counsel Internal Revenue Service Memorandum Number 2021410F, explaining why the IRS has the authority to demand specific contemporaneous documentation in support of tax credit claims under section 41 of the Internal Revenue Code […]

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Upcoming Seminar: Federal & State R & D Credits Live Video Conference

This is a 4-hour live video conference (4 CPE credits) led by Otto Kunz, CPA, EA, MBA,and founder of Tax Credit Advisors, LLC., who has been a tax practitioner for over 25 years. Zoom Live Video Conference: Dec. 10th, 1-4:30pm ET This unusual seminar will explore the current rules for important federal and state Research […]

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Join us for the 2021 Northeast Lean Conference
2021 Lean Conference

Join us for the 2021 Northeast Lean Conference in Springfield, Massachusetts, October 6-7 at the Mass Mutual Center. This is a great opportunity to meet people who are striving to improve their manufacturing operations, to share tips and best practices, and to learn about new programs that are designed to help strengthen the manufacturing sector […]

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Funding for Technical Improvements in the Age of COVID-19
The Earth, COVID-19, and technology

There is no question that the past eighteen months have been very challenging on a wide range of levels. For manufacturers, it has been particularly difficult to maintain cohesive and reliable operations while also complying with mandates for social distancing, employee testing, and other aspects of the response to the epidemic we have all experienced […]

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New IRS Guidance Linking Tax Accounting with Financial Accounting Rules
6765 Tax Form

IRS has made changes to its audit guidelines for the federal Research Credit, particularly for companies with assets over $10 million. This change now requires larger claimants to modify their GAAP-compliant financial statements to include all qualified research expenditures in their stated Research and Development account. The change reflects the requirement that all claimed expenses […]

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Join us for the 2020 Northeast Lean Conference

2020 will mark the 16th year of the annual Northeast Lean Conference. We were glad to have met many in years prior like 2017 and 2018, and while 2020 might be happening slightly different than usual with social distancing measures in place, we’re hoping you’ll still join us for the digital version of the Northeast […]

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Are You Eligible for R&D Tax Credits Related to COVID-19?
Wearing a mask

Beginning in March 2020, businesses around the United States were faced with the threat of COVID-19, putting them at risk of losses and closures, compromising bottom lines. As the economic news worsened, medical updates proved even more grim. With an increase in confirmed COVID-19 cases, the medical community suffered the stress of responding, but without […]

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Small Business Relief in the CARES Act

As you may have heard on March 27, 2020 Congress passed the CARES Act which included funding of programs developed to assist small businesses in maintaining their workforces and sustaining business during and after Covid-19.  

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Important information regarding COVID-19

Dear clients and friends of Tax Credit Advisors: During this time of uncertainty, we know that you are being bombarded with information about the COVID-19 virus. We want you to know that we do not take this threat lightly, and we, too, are taking steps to “flatten the curve” of this virus, as all of […]

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