Bill passage allows for Research Credit to become Permanent
After passage by the Senate on Friday, December 18th, the President signed into law both a new federal budget, as well as a second bill providing for the extension of a long list of expiring tax provisions. The largest of these was the Section 41 Research Credit, which has now been made permanent. In addition, the credit will now be available to off-set the Alternative Minimum Tax, and for some small business, may be used to offset payroll taxes as well. Watch this space for more information soon. Meanwhile, if you are interested in pursuing a research credit claim, please call us today!