This webinar will include the latest updates on legislative requirements related to Research and Development (R&D) tax credits and expense treatment. Our presenter will explain the changes to Form 6765 released by the IRS in June 2024, and how these changes will impact taxpayers that claim the R&D Tax Credit.
The webinar will also touch on the nuts and bolts of amortizing R&D expenses under IRC Section 174, a mandatory requirement for many businesses regardless of whether they claim the R&D Tax Credit.
Learning Objectives:
- List the changes to federal form 6765 released by the IRS on June 21, 2024, and discuss their practical impact
- Evaluate the required treatment of R&D expenses under I.R.C. Section 174 and consider how taxpayers and tax preparers can comply with these requirements
- Evaluate how taxpayers and their advisors can recognize when these new requirements apply to avoid noncompliance with tax regulations
Rance Hughes
Firestone Tax Solutions
Founder
[email protected]
(208) 416-1039
Rance Hughes, a Certified Public Accountant, has focused on claiming and supporting R&D tax credits and other tax incentives since 2013. He obtained his Bachelor of Science in Accounting from Lewis-Clark State College before working at large public accounting firms prior to creating Firestone. He has delivered over $100 million in tax credits to his clients, and has successfully retained numerous tax credits that were scrutinized by the IRS and state tax authorities.
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