Welcome

IRS Spells Out Info Needed on Claims for Research Credit Refunds

Oct. 15, 2021, 7:23 PM

Taxpayers must provide details about the kind of research they perform and how much money they spend on it when they file claims for refunds of the research and experimentation tax credit, the IRS said Friday.

The agency said it receives thousands of claims each year for the research credit, in the hundreds of millions of dollars, and the information will better enable it to determine up front if a refund claim should be paid immediately, or whether future review is needed.

  • For a research credit claim for refund to be considered valid, taxpayers must identify all the business components ...

To read the full article log in. To learn more about a subscription click here.