The IRS is requesting comments on draft instructions, which it plans to finalize by the end of January 2025, for the research and development tax credit.
Draft instructions for Form 6765 on Credit for Increasing Research Activities were released Friday. Taxpayers will have through June 30, 2025 to submit feedback.
Thousands of returns claim the research credit each year and these form changes are an effort to make the reporting more consistent, the IRS said in a statement.
- The agency said it is interested in getting feedback “specifically about Section G reporting for controlled groups, ASC 730 Directive, Section G ...
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