Amended Returns Update: Implications of Claims for Refund
1 Articles
1 Articles
Amended Returns Update: Implications of Claims for Refund
The IRS’s Chief Counsel Memo, released on October 15, 2021, introduced new guidance regarding R&D tax credit refund claims. These updates impact taxpayers filing an R&D tax credit refund claim after January 10, 2022, requiring granular documentation of R&D activities. On November 25, 2024, the transition period was extended through January 10, 2026, allowing taxpayers 45 days to perfect claims before the IRS makes a final determination. The ne…
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