{"id":93681,"date":"2022-02-01t11:30:18","date_gmt":"2022-02-01t16:30:18","guid":{"rendered":"\/\/www.g005e.com\/?p=93681"},"modified":"2022-12-22t00:41:05","modified_gmt":"2022-12-22t05:41:05","slug":"claiming-the-rd-tax-credit-the-right-way","status":"publish","type":"post","link":"\/\/www.g005e.com\/2022\/02\/01\/claiming-the-rd-tax-credit-the-right-way\/","title":{"rendered":"claiming the r&d tax credit (the right way)"},"content":{"rendered":"
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crabtree<\/figcaption><\/figure>\n

how to save clients money while staying off the irs \u2018dirty dozen\u2019 list.<\/strong><\/p>\n

a conversation with randy crabtree, cpa<\/em><\/p>\n

randy crabtree is co-founder and partner of\u00a0tri-merit specialty tax professionals,\u00a0a widely followed author, lecturer, and the host of \u201cthe unique cpa<\/a>\u201d podcast.<\/em><\/p>\n

under new rules, taxpayers filing a valid r&d tax credit claim for refund under irc 41 must provide, at minimum, five essential pieces of \u201ccontemporaneous documentation.\u201d<\/p>\n

here crabtree addresses a few of the biggest questions.<\/p>\n

the new rules include:<\/p>\n

    \n
  1. all business components that form the factual basis of the r&d tax credit claim for the claim year.<\/li>\n
  2. all research activities performed by business component (i.e., this must include a description of what the taxpayer did, and how they did it, by business component).<\/li>\n
  3. all individuals who performed each research activity by business component. (i.e., this can be a list, table, or narrative but must include the first and last name, and the title\/position of the person or persons engaged in the r&d by business component).<\/li>\n
  4. all the information each individual sought to discover by business component. (i.e., this can be a list, table, or narrative providing the information each individual sought to discover).<\/li>\n
  5. the total qualified expenses of employee wage expenses, supply expenses, and contract research expenses.<\/li>\n<\/ol>\n

    question: randy, why is the irs suddenly clamping down on those claiming the r&d tax credit? has there been a spike in fraud?<\/strong><\/p>\n

    read more →<\/a><\/p>\n