IRC Section 41: Credit for Increasing Research Activities Update

Lorman Education Services
Training overview
Professional Course
1.5 hours

Course description

IRC Section 41: Credit for Increasing Research Activities Update

IRC Section 41: Credit for Increasing Research Activities Update

Gain a better understanding of the considerations and requirements of the research tax credit. This topic will feature a discussion around one of the most complicated and misunderstood sections of the Internal Revenue Code, Section 41 - Credit for Increasing Research Activities. Our panel of experts has collectively worked on more than 500 research tax credit studies during their careers. Learn from some of the top technicians in the industry what may and may not be considered research and development under IRS guidelines. Several topics that will be discussed include understanding the broad range of companies in many industries that can qualify for the research credit, potential pitfalls, and significant opportunities to bring value to your clients or your company by using the research credit, and various elections and opportunities that can maximize the value of the credit.

Learning Objectives

  • You will be able to define recent developments that have broadened the scope and application of the credit.
  • You will be able to describe IRC Section 41 - Credit Requirements.
  • You will be able to review documentation challenges and required actions.
  • You will be able to recognize qualifying expenditures.

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    Who should attend?

    This live webinar is designed for accountants, CFOs, controllers, accounts payable professionals, tax managers, presidents, vice presidents, business owners and managers, bookkeepers and attorneys.

    Training content

    • Overview of the Research Tax CreditApplicabilityBenefit – Federal and StateState of the Research Credit
    • Conceptual View – How the Credit Is Supposed to Affect Behavior
    • History
    • Recent Developments That Have Broadened the Scope and Application of the Credit
    • PATH ActWhat Activities Qualify as Research and DevelopmentExcluded ActivitiesIRC Section 41 – Credit Requirements
    • Business Component
    • Technical Uncertainty
    • Process of Experimentation
    • Scientific PrinciplesInternal Use Software
    • High Threshold of Innovation Test
    • Fed Ex vs. U.S.Qualifying Expenditures
    • Wages
    • Supplies
    • Contract ResearchCredit Calculation Considerations
    • Reduced Credit Election
    • General Credit Calculation
    • Alternative Simplified Credit Calculation
    • Base Period Concepts and Implications
    • Credit Carrybacks and CarryoversDocumentation Requirements
    • Case Law and Regulations
    • Challenges and Required ActionsRecent Developments
    • Case Law and Regulations
    • Regulatory UpdateSummary
    • Regulatory Mine Field, However, Tremendous Value to Business Owners


    The cost of this IRC Section 41: Credit for Increasing Research Activities Update live webinar is $99 per participant.

    About Lorman Education Services

    Lorman Education Services

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    Contact info

    Lorman Education Services

    Lorman Education Services
    2510 Alpine Road
    54702 Eau Claire Wisconsin

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