Nov 30, 2017 14:00
A recent Large Business & International (LB&I) Directive provides a safe harbor for taxpayers to compute Qualified Research Expenditures (QREs) using the amount currently expensed on the taxpayer’s financial statements pursuant to ASC 730, with certain adjustments. While intended to lessen the administrative and compliance burden on taxpayers and the Internal Revenue Service (IRS), the Directive may pose new challenges previously not encountered in computing the research credit. Before following the Directive, taxpayers should fully understand its requirements and assess the benefits and risks specific to their situation.
Join us for our Webcast, where senior-level professionals from KPMG LLP (KPMG) Washington National Tax and Research Credit Services practices, with extensive knowledge in the research credit and IRS practice, procedure, and dispute resolution areas, will present: