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Proposed Bill would Make R&D Credit Permanent & Offset Payroll Liability for Small Businesses

Representative Julia Brownley (D-CA) introduced the Innovation, Research, and Manufacturing Act (H.R. 3640) on December 2, 2013. The proposed bill would increase the I.R.C. § 41 credit for increasing research activity (commonly known as the Research and Development or R&D tax credit) by fifty percent. The bill would also extend the credit permanently, and permit the credit to be used against payroll tax liability for eligible small businesses.

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Contact our team today with any tax controversy concern you’re facing. We fight every day to protect the interests of the taxpayer, and we look forward to putting you in the best tax situation possible.

GET STARTED

Contact our team today with any tax controversy concern you’re facing. We fight every day to protect the interests of the taxpayer, and we look forward to putting you in the best tax situation possible.

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