Internal Revenue Service’s Interim Guidance for Amended Claims for Research and Development Tax Credit

Written by: Tanya Donnelly, Senior R&D Tax Manager On January 5th, 2022, the Internal Revenue Service (“IRS”) released an IRS Press Release, Frequently Asked Questions, and Interim Guidance for Research and Development (“R&D”) tax credit claims. As we discussed in our previous article, the IRS issued Chief Counsel Memorandum 20214101F on October 15, 2021, which…

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Internal Revenue Service’s New Guidance for Research and Development Tax Credits: It’s Not as Spooky as it Seems

A person using a calculator

Written by: Tanya Donnelly, R&D Tax Manager Mark Stapleton, R&D Senior Tax Analyst Geoff Garber, Partner On October 15th, 2021, the Internal Revenue Service (“IRS”) released Chief Counsel Memorandum 20214101F, which sets forth the information taxpayers must provide with administrative claims for refund or credit under Internal Revenue Code (“IRC”) Section 41, also known as…

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Startups and R&D Tax Credits: The Perfect Pair

Brayn Consulting

By Tanya Donnelly, R&D Tax Manager You’ve done it! You have taken the leap and started your own company. Maybe it’s a new software program with an innovative AI model, or a new vertically-focused SaaS tool. In the early days, you are busy recruiting engineering talent, pitching potential customers, and trying to raise a Seed…

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Hold that Panic Button: Despite IRS focus shifting to different issues, R&D Tax Credits still strong for A&E Service Firms

Brayn Consulting

By Justin DiLauro, Partner, BRAYN Consulting LLC Since the elimination of the “discovery test” in the early 2000s, Architecture and Engineering (A&E) design service firms have been and continue to be excellent candidates for R&D Tax Credits.  It took almost a decade for the application of R&D Tax Credits to A&E firms to be tested…

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Maximizing R&D Tax Credits with Controlled Group Analytics

Brayn Consulting, LLC

By Julia Sosa and Justin DiLauro Companies claiming an R&D tax credit receive a dollar-for-dollar reduction in their tax liability based on the qualified research activities undertaken and the associated qualified research expenses (QREs) related to those activities. However, many owners, officers, and CPAs of companies across all industries often find themselves being talked out…

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Pat Chase Joins BRAYN to Head Up Enterprise Solutions Service Line

Brayn Consulting

Pat Chase has joined BRAYN Consulting in January 2021 as Enterprise Solutions Manager.  Pat was Controller for a 250-person Civil Engineering firm in Oregon for the past three years.  By improving business practices, Pat incorporated improved Project Management processes such as Project Backlog reporting for insight into the future and improved billing cycles by decreasing…

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Energy Efficiency Tax Incentives Extenders Update

Brayn Consulting

Congress just made some significant changes to two of our favorite energy-efficient incentives as part of the recent omnibus bill passed at the end of 2020. The New Energy Efficient Home Credit (45L) has been extended in its current form through the end of 2021. The Energy Efficient Commercial Buildings Deduction (179D) is now a permanent tax incentive!

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