One of the biggest reasons to file for R&D Tax Credits is to reduce your tax liability. The IRS and the States encourage research and development and this is why you want to take the opportunity to use them. There are extraordinary opportunities for corporate CEOs, CFOs and Senior Management Executives who file claims for R&D Tax Credits. One R&D Tax Credit opportunity is unclaimed credit from prior years’ tax filings. Another benefit is if you are unable to use the tax credit this year you can carry it back one year or carry it forward twenty years. The R&D Tax Credit should be part of your company’s tax planning and tax savings initiatives. Here is what the IRS says about R&D Tax Credits. Research And Development – Manufacturing Tax Tips The expenditures of research and development ("R&D") are generally capital expenses. However, you can choose to deduct these expenditures as current business expenses.