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The R&D Tax Credit: Fundamentals and Best Practices

Description

The research and development (R&D) tax credit is an incentive that can generate much-needed cash flow for businesses in a vast array of industries. Though it’s been around for years as a temporary provision, it was recently made permanent under the Protecting Americans from Tax Hikes Act (PATH Act) and was preserved under the Tax Cuts and Jobs Act (TCJA). And, due to recent changes in other credits and incentives, many businesses are now finding themselves looking at the R&D tax credit for the very first time. Join us for an exciting and informative 100-minute session that will cover the fundamentals of the R&D tax credit as well as the recent favorable changes brought about from legislation and regulations, including new opportunities to offset alternative minimum tax (AMT) and payroll taxes. The session will also touch upon implications brought about from recent court rulings such as Suder v. Commissioner (2014), which impacts the inclusion of officer salaries, as well as Siemer Milling Company v. Commissioner (2019), which impacts documentation and substantiation of credit claims. Don’t miss out on this crucial tax information that can positively impact your business and clients.

Learning Objectives

At the end of this webcast, you will be able to: • Recall a general overview of the R&D tax credit • Determine how to identify qualifying activities and expenses • Recognize the amount of benefit a company might receive • Recall the level of due diligence necessary to support the credit claim • Distinguish new areas of opportunity • Recognize new and ongoing areas of audit risk

Major Topics

• Fundamentals of the R&D tax credit

• Overview of qualifying activities

• Claim documentation

• TCJA changes

• Overview of cases such as Suder v. Commissioner (2014) and Siemer Milling Company v. Commissioner (2019)

Provider
AICPA
Course Level
Intermediate
Professional Area of Focus
Tax
CPE Field of Study
Taxes
2.0
Who Should Attend

Large businesses, large firms, medium firms, small firms/sole practitioners, small/medium businesses

Prerequisites

Basic knowledge of tax compliance

Location
Online
Event Information
When
Jun 17, 2020
1:00 pm - 2:45 pm EDT
Location
Online
Total CPE Credits
2.0
Format
Webcast Replay

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The R&D Tax Credit: Fundamentals and Best Practices


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