The Documentation Gap Behind Missed R&D Tax Credits

Fuente: International Business Times

The research and development tax credit has existed for decades. It is legislated, it is available, and it is audited more aggressively than most business owners realize. The IRS has designated research credit claims as a Tier I audit issue, noting that claims are often filed using high-level estimates, invalid assumptions, lack of means between qualified research expenses and the business component without contemporaneous documentation to support the claim.