IRS lists R&D tax credit among its Dirty Dozen, so is it still safe to claim?
In July, the IRS wrapped up its annual Dirty Dozen scams list, designed to warn taxpayers against abusive tax promotions. One practice mentioned is the improper claiming of business credits, specifically the R&D tax credit. But does this mean a taxpayer should not be claiming the research credit? In Accounting Today, David Seibel examines why the R&D Tax Credit appears on the list, and discusses key considerations when claiming the credit.
David Seibel is an engineering senior manager for the R&D Tax Credit Practice. He combines his knowledge of tax law with his engineering expertise to maximize companies’ research credits and reduce their overall tax burdens.
Seibel ensures clients are receiving studies that meet the highest level of quality. He conducts fieldwork, produces detailed technical calculations, and builds narratives that accurately reflect each company’s research and experimentation activity.