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Proposed regs. would simplify reduced research credit election.

Publication: The Tax Adviser
Publication Date: 01-OCT-09
Format: Online
Delivery: Immediate Online Access

Article Excerpt
On July 15, the IRS released proposed regulations that simplify the procedures for taxpayers claiming the reduced research credit under Sec. 280C(c)(3) (REG-130200-08).

Taxpayers who claim a credit under Sec. 41 for increasing research expenditures must reduce their research expenditures deduction under Sec. 174 by the amount of the...

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