Company News

Research & Development Credit – Be wary of unscrupulous promoters!

September 7, 2021

The IRS has updated its “Dirty Dozen” of scams list, designed to warn taxpayers against abusive tax promotions. One of the big ones is the Research & Development credit where firms are abusing the loose guidelines of the credit.

The following article outlines some of the tactics in play by firms who are really just playing the audit lottery at the expense of the taxpayer. In other words – if it sounds too good to be true, it probably is.

Buyer be ware! We have seen evidence of this in the Wichita area. Penalties can apply for unrealistic tax positions!

We assist clients with legitimate R&D expenditures and with State of Kansas High Performance Incentive Program (HPIP) credits.

Contact us for more info!