Understanding the tax reporting and compliance procedures of this very interesting tax credit is GOOD BUSINESS for 3 VERY IMPORTANT Reasons:
- MONEY – Taxpayers Save BIG
- OPPORTUNITY – More Taxpayers Qualify
- TIMING – Applicable statues changing in 2022
Since becoming law in 1981 the R&D tax credit has proven to be quite a valuable tax planning tool yielding billions of dollars in federal and state benefits for LARGE US businesses with big compliance budgets.