Perspectives

Research & Development and Government Incentives Developments 

Final Regulations: Alternative Simplified Credit Elections on Amended Returns

Stay abreast of recent changes in the law that impact tax incentives for research and development, domestic production activities, and other areas (hiring/employment, energy sustainability, etc.) targeted for government incentives. By staying focused on the recent developments that really matter – legislative proposals, proposed regulations, revenue rulings, revenue procedures, IRS guidance, court cases, etc., released each year, this newsletter focuses on some of the few remaining permanent tax benefits and provides analysis and insights of the recent developments that could impact your organization.

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Final regulations adopt the same approach as temporary regulations (TD 9666)

The final regulations adopt the same approach as the temporary regulations issued last year (TD 9666), with some minor clarifications.  There is, however, interpretive guidance in the Preamble to the final regulations that is particularly important to companies who have attempted to make so-called protective alternative simplified credit elections.

Review the final regulations (T.D. 9712) which were published on February 27, 2015.

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