R&D Tax Credit Alert

Written on June 3, 2014

The IRS has removed a restriction that prevents a taxpayer from making an election on an amended return to compute the R&D tax credit using the alternative simplified credit (ASC) method. Prior to this change, taxpayers had to use a more complicated method of calculating the R&D tax credit on amended returns.  This change could open the door for any taxpayers that may have been holding off on amending returns to take advantage of the R&D tax credit.  If you have any questions, contact Floyd Holliman.

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