Thirty-four years after its original, temporary enactment, the section 41 tax credit has finally been made permanent. On December 18, 2015 President Obama signed into law the Consolidated Appropriations Act, 2016 reinstating the credit retroactively for qualified research expenses (QRE) paid or incurred on or after January 1, 2015. The current methods of computing the research credit have not changed. Along with the permanent reinstatement of the research credit, certain businesses can get special tax benefits.
February 15, 2016 What's News in Tax
December 17, 2015 Tax NewsFlash KPMG's preliminary observations on tax provisions in the PATH Act and Omnibus Spending Bill.
For tax years beginning after 2015:
Specific rules must be followed to qualify for these benefits, therefore KPMG LLP recommends preplanning to understand how your company may qualify for either of these benefits.
The RD Tax Credit: A 2015 Year in Review
February 26, 2016
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