Yes, The Department of Treasury announced today on June 2, 2014 that modified treasury regulations (e.g., TD 9666) will enable companies to claim the Research and Experimentation Tax Credit (hereinafter "RTC") utilizing the Alternative Simplified Credit (hereinafter "ASC") methodology on amended tax returns. This represents a true paradigm shift from the previously issued set of treasury regulations which only allowed companies to take the RTC utilizing the ASC on originally filed tax returns.

For the complete scope and application of this tax law change, please contact me directly and consult: www.ofr.gov/(S(k13fpuok414f4iqa0yptj1zn))/OFRUpload/OFRData/2014-12757_PI.pdf