R&D Tax Credit
Free White Paper
How your company could be losing hundreds of thousands of dollars (by not taking advantage of the R&D Tax Credit provisions)
Published by the IPC Government Relations Committee in association with McGuire Sponsel, LLC and Blackman Kallick
Take Action to Ensure the Future Availability of the R&D Tax Credit (expired in 2007)
- Washington Lobby Day: The coalition will be visiting Washington to urge Congressmen and Senators to support the R&D Credit on April 9, 2008. Join in and help lobby your elected officials to protect R&D jobs in America (.doc).
- Write To Congress: IPC strongly urges its members to mobilize their employees to write to Congress and urge rapid action on the Credit. IPC has created a sample letter for employees to send to their elected officials. We urge that you also include a paragraph that individualizes your letter and tells your Congressmen why this matters to your company / individual circumstance.
Background
In December 2006, President Bush signed legislation that extended and strengthened the R&D Tax Credit retroactively from Jan. 1, 2006, through Dec. 31, 2007. A new credit formula, called the Alternative Simplified Credit (ASC), was effective prospectively from Jan. 1, 2007 through Dec. 31, 2007. However the R&D Credit has expired and IPC members will suffer accordingly if it is not retroactively extended. This lapse is 13th time in the 25-year history of the credit that Congress has allowed the R&D tax credit to expire.
IPC and the R&D Tax Credit Coalition are pushing for Congressional action on two bills that would extend the R&D Credit. In the House of Representatives, IPC supports H.R. 2138, and the Senate companion bill is S.2209.
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