The R&D Tax Credit was originally introduced in 1981, to promote research spending. In 2015, Congress made the credit permanent thereby allowing firms to incorporate the initiative into their long term budgeting and broadened the scope of qualifying sectors and activities. Research and development comes in many forms and our team of financial and technical experts can identify areas which may not seem immediately relevant. If your company is paying income tax or payroll tax this dollar for dollar credit will reduce your liability. If you do not have a tax liability but your activities qualify, the R&D tax credits can be carried forward for a period of 20 years and if you have never claimed before we can look back three years.
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