The Differences Between LB&I and SB/SE Research Credit Adjustments

10/29/2020

Let’s assume a scenario where you filed for the credit for increasing research (“R&D credit”) and the Internal Revenue Service (“IRS”) selected your return for examination/audit. At the conclusion of the audit, the IRS has two basic options: a “no change” or a “disallowance.” As much as everyone would like to receive a “no change,” … Read More

KBKG Tax Insight: R&D Studies Can Make Audits Easier and the Credits More Sustainable

04/28/2020

As featured in Accounting Today Internal Revenue Service examinations of the research tax credit can burden both the client and the IRS. Throughout most of its decades-long history, research credit audits have exposed areas of misunderstanding and, in many circumstances, led to major disagreements. There is little “bright line” guidance, and each examiner must consider … Read More

KBKG Tax Insight: Words Matter When Describing R&D Credit Activities

01/08/2020

As featured in Accounting Today We’ve all experienced a situation where our intent and the meaning of something we’ve said or written was misinterpreted by the recipient. There are numerous articles available for many situations to help us avoid this problem, such as the how to ask the boss for a raise or the best … Read More