Research and Development Tax Credit Explored
Overview:
The Obama Administration has been striving to make the Research and Development (R&D) tax credit as a permanent part of the Tax Code. In addition to that, the administration has proposed to expand the credit by about 20%, allocating about $100 billion over the next ten years to leverage additional R&D investment.
There has been a long standing debate about the uncertainty and complexity of this tax credit. Who qualifies? What qualifies? To help walk you through the fundamentals of R&D tax credit, The Knowledge Group has assembled a panel of experts who will share their insights in a 2-hour, live webcast. They will examine the most significant issues in the mix including:
- How the R&D tax credit works
- Methods of calculating R&D tax credit
- Overview of the eligibility criteria
- Supporting documentation for eligibility
- Qualified R&D activities
- Claiming process
- Other critical issues
- Up-to-the-minute regulatory updates
Enrol in this course today by clicking the “Register” button below. Discounts are available to those who register in advance.
Agenda:
SEGMENT 1:
R. Ashley Thompson, Managing Consultant
BKD, LLP
- What qualifies for the credit, calculation piece
- Overview of Eligible Costs – Wages, Supplies, & Contract Research
- Methods of Calculating the Credit – Regular Method vs. Alternative Simplified Method
- Credit Calculation – Practical Issues and Common Pitfalls
SEGMENT 2:
Roseann M. Cutrone, Counsel
Skadden, Arps, Slate, Meagher & Flom LLP
Controversial Issues in the Audit of the R&E Credit
- Tier I Issue
- Substantiation Requirement
- Frequent Substantive Areas of Dispute
- Supervisor Issue
- Manufacturing Process Issue
- Supplies
SEGMENT 3:
Kathleen L. King, Managing Director – Research Credit and Incentive Services
Alvarez and Marsal Taxand, LLC
- Nexis issues and practical suggestions of dealing with that
- IRS audit updates
SEGMENT 4:
Brett Ritter ,
PricewaterhouseCoopers
Areas of contention identified within the GAO report:
- Level of Innovation and meaning of "information available to the taxpayer" – Union Carbide
- Internal Use Software – definition and qualification standard – FedEx
- Late stage testing of products and production processes – Union Carbide
- Qualified Supplies – TG Missouri, Trinity Industries
- Definition of Gross Receipts – Proctor and Gamble, Hewlett Packard
- Substantiation of the Credit – McFerrin, Union Carbide
SEGMENT 5:
Betsy Mullins , SVP, Policy and Political Affairs,
TechNet
- Lobbying
- Machinations in Congress
- Planning long term on a credit that’s extended ona yearly basis
Who Should Attend:
- CPAs
- Lawyers
- Research and Development Industry
- Information Technology/Software Industry
- Tax Directors/Analysts
- Tax Consultants
- Tax Advisors
- Senior Executives
- Financial Executives/Officers
- Economists
Ashley Thompson leads BKD’s Research & Experimentation Tax Credit Services and spends 100% of his time in this arena. He …
Roseann M. Cutrone’s practice involves controversy, planning, policy and legislative work focusing on a variety of issues, including the U.S. …
Kathleen King is based in Taxand USA where she is a Managing Director with Alvarez & Marsal’s Taxand, LLC. She …
Brett Ritter is a Director within PricewaterhouseCoopers, LLP’s (PwC) Tax Projects Delivery Group. He focuses exclusively on securing federal and …
Betsy Mullins is Senior Vice President for Policy and Political Affairs at TechNet, the bipartisan political network of tech CEOs …
Course Level:
Intermediate
Advance Preparation:
Print and review course materials
Method of Presentation:
On-demand Webcast (CLE)
Prerequisite:
NONE
Course Code:
104088
Total Credits:
2.0 CLE
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SPEAKERS' FIRMS:
About BKD, LLP
About Skadden, Arps, Slate, Meagher & Flom LLP
About Alvarez and Marsal Taxand, LLC
Website: https://www.taxand.com/
About PricewaterhouseCoopers, LLP
About the PwC network
PwC firms provide industry-focused assurance, tax and advisory services to enhance value for their clients. More than 161,000 people in 154 countries in firms across the PwC network share their thinking, experience and solutions to develop fresh perspectives and practical advice. See www.pwc.com for more information.
Website: https://www.pwc.com/
About TechNet
Website: https://www.technet.org//