ongress and the Internal Revenue Service may soon assign more certainty to how the federal government treats tax credits for research and development cost, welcome news to corporate tax departments that have had to handle ambiguity on the issue for decades.
The United States lags behind more than two-dozen other industrialized countries in rewarding companies for their technological innovation with tax credits. Matt Miller, senior director of government affairs for Financial Executives International, says Congress and the IRS are under increasing pressure to cut the complexity and uncertainty around the R&D credit. “The uncertainty goes much deeper than how to ...