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R&D Credit Landmines: Recent Changes and Due Diligence

R&D CREDIT LANDMINES: RECENT CHANGES AND DUE DILIGENCE

Cost Free
Presentation Length 1.0 hour

Recorded DateFebruary 3, 2023
CPE:Not available
(archived webinars do not offer CPE credits)
Subject AreaTaxes
Course LevelBasic
Course Description

The rules surrounding research and development (R&D) expenditures and credits have shifted dramatically in the last couple of years. There are now strict due diligence requirements that need to be met in order to claim the credit, and few of the credit providers are requesting and providing sufficient information to meet them.

To further muddy the mix, the accounting rules for expenditures have changed to where they must be amortized rather than deducted in the current year. Additionally, in some cases, Form 3115 must be filed to show a change of the accounting methods used. Now the IRS has come out with exemptions for Form 3115, but with a statement that will need to be attached to all tax returns that have R&D expenditures. 

Learning Objectives:


  • Summarize the recent changes with R&D credits

  • Determine what statements you need to attach and when

  • Identify what is needed to meet the due diligence requirements

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PLEASE NOTE: ARCHIVED WEBINARS DO NOT QUALIFY FOR CPE
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Crystal Stranger holds a Juris Doctor of Law degree, is an Enrolled Agent (EA), EOS Integrator, and Senior Tax Director and CEO of OpticTax.com. Bringing over 20 years of finance, accounting, and leadership experience she enjoys helping startups stay focused on the big picture objective while maintaining an eye to the details and performing realistic risk assessments.

About Our Presenter

Cleer transparent

Cleer provides accurate, affordable, and efficient bookkeeping and tax services for US businesses and subsidiaries to help entrepreneurs do it right from the start. Cleer was launched to newly-formed businesses needing bootstrapped tax and bookkeeping to fit their budget and growth stage, and has grown over 5 years, 5 continents, and more than 3,000 Clients. Our tech-forward team is more streamlined with our paperless process to provide next-level results for your startup. Cleer also offers Delaware Franchise Tax Annual Reports, tax consultations, representation, R&D Tax Credits and other specialty consulting and compliance services, based on the unique needs of your business.