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With the signing of the Consolidated Appropriations Act on December 18, 2015, companies now have more certainty with respect to the Section 41 research tax credit. There were a few law changes for select companies, but for many the credit law was undisturbed. Still, the credit is one of the more contentious areas of domestic tax: from how to establish books and records that show nexus between qualified business components, activities, and costs, to working with tax authorities to reduce or eliminate uncertain tax positions. In addition, court cases and updates to regulations and IRS positions during the past year impact technical and process issues for companies.
Please join KPMG LLP's Research Credit Services practice for an overview of the research tax credit, industry trends, and best practices for companies to consider when computing and documenting research credits, including:
A look back at 2015: FAQ’s, court cases, law changes and updates (including new proposed internal-use software regulations issued January 2015)
A look forward to 2016 to better help you prepare for the coming year
Sharing leading practices: tax controversy and working with the IRS