IRS Proposes Changes to R&D Tax Credit Form 6765

IRS Proposes Changes to R&D Tax Credit Form 6765

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...
Funded R&D – Rights – Tangel Case R&D Tax Credits

Funded R&D – Rights – Tangel Case R&D Tax Credits

In a recent Tax Court case, Tangel v. Commissioner, T.C. Memo. 2021-1 (Jan 2021), the Tax Court concluded that the taxpayer who claimed the R&D tax credit did not retain substantial rights and thus the R&D work was ‘funded’ and the R&D tax...
Settling R&D Tax Credit Base Period Issues with IRS – Audio Technica Case 2020

R&D Credit – New IRS Safe Harbor for R&D Costs

On September 11, 2017, the commissioner of the Large Business & International (LB&I) Division of the IRS issued new guidance for taxpayers using ASC 730 to expense research and development costs on their financial statements. This directive...