The IRS announced on Tuesday, June 18th, via an update to its FAQs for amended return research credit claims (see link below) that for claims postmarked on or after June 18th it is waiving the requirement that taxpayers provide the following information in connection with such amended return R&D credit claims:
The guidance outlined in FAQ 21 (Amended return R&D credit claim FAQs) comes in response to complaints from taxpayers in recent years around what are generally viewed as onerous documentation requirements. While no longer required to be submitted with an amended credit refund claim, the information should still be prepared and on file for submission during the course of a potential examination around the claim.
The remaining pieces of information originally required to be reported for amended R&D credit claims via Chief Counsel Memorandum 20214101F remain in force and are as follows:
Smith + Howard is available to support with a range of research & development tax credit services. To learn more, contact Brad Pittman at [email protected].
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