What’s New with R&D Tax Credits in 2022

Today we are covering the latest news and guidance regarding R&D tax credits. Innovation is percolating through all areas of the economy, especially with companies pivoting during the pandemic and later as the economy has recovered. Since 1981, the federal income tax credit for increasing research activities (R&D credit) has been a vehicle for the federal government and many states to reward companies for investing time and money into innovation and experimentation. Addressing technical engineering, scientific or computer science uncertainties is the core activity that yields R&D tax credits. Tax Beat hosts Brooks and Sarah interview leaders from the Firm’s Tax Credits and Incentives Advisory practice for their insights into new IRS documentation provisions, required capitalization of expenditures starting this year, a legislative outlook, and the value of R&D credits for all size businesses.

Topics discussed include:

  •   4:21 – The big picture for R&D credits
  •   6:19 – Importance of R&D credits to industry
  •   8:38 – Middle market companies taking advantage of R&D credits
  •   9:55 – New IRS documentation requirements for tax credit refund claims
  • 17:36 – Required capitalization of R&D expenditures
  • 20:49 – Trends and opportunities

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Brooks E. Nelson

Tax Services

Partner, Cherry Bekaert Advisory LLC

Martin Karamon

Tax Credits & Incentives Advisory Leader

Partner, Cherry Bekaert Advisory LLC

Ronald Wainwright, Jr.

Tax Services

Partner, Cherry Bekaert Advisory LLC

Sarah McGregor

Tax Services

Director, Cherry Bekaert Advisory LLC

Past Episodes

Podcast

November 7, 2024

22:13

Speakers: Brooks E. Nelson, Sarah McGregor, Martin Karamon

Learn about the ERC's voluntary disclosure program, IRS moratorium, and how employers can navigate claim eligibility and refund processing changes.

Podcast

September 17, 2024

11:45

Speakers: Christopher J. Truitt, Martin Karamon, William W. Billips, Timothy Doran

Learn how transferable energy tax credits under the Inflation Reduction Act offer private equity funds new tax planning opportunities and innovative deal structuring.

Podcast

June 25, 2024

17:50

Speakers: Eric Poppe, Vivian Kohrs

Learn how government contractors can benefit from R&D credits through IRS section 174 as well as state-specific economic incentives.