The tax extenders package, which includes the R&D tax credit, was passed in the House last night and the President is expected to sign the bill later today. The package includes application of the R&D tax credit retroactive to January 1, 2010 and extends the R&D credit through December 31, 2011. This bill did not include any increase in the Alternative Simplified Credit (ASC) rate or other tweaks. There is still a push to make the R&D tax credit permanent by this administration, so we will keep you posted on developments in that area as well.
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