The winds of change are blowing in the Capitol and on Section 41 of the U.S. Tax Code. What is already a tried and true relief tool for businesses could be made even better by, among other things:
Doubling the credit
Allowing businesses to monetize their credit immediately instead of carrying it forward
Expanding the credit for domestic manufacturing
Now is the time to take a hard look into whether you qualify for the R&D Tax Credit, per former Tax Counsel to the U.S. Senate Committee on Finance and alliantgroup National Managing Director Dean Zerbe’s newest article in Forbes. With potential changes on the horizon, this already powerful incentive is set to become an indispensable part of economic recovery.