The “Ins and Outs” of Software Research and Development

Late last year a Research and Development case highlighted the importance of understanding the subtleties of qualifying software R&D claims. The case, the United States of America vs. Davenport, Civil Action No.: 3:09-CV-2455-L reached judgment in the Northern District of Texas, Dallas Division of the U.S. District Court ruled in favor of the IRS over […]

The American Taxpayer Relief Act of 2012

H.R. 8, “The American Taxpayer Relief Act of 2012,” passed the Senate and the House, with the President signing the bill on January 3, 2013. There were a number of business and energy tax extensions in the bill that included among others the extension and modification of the research (R&E) credit. The R&E credit has […]

Appeals Settlement Guideline for Qualified Research Expenses – Extraordinary Expenditures for Utilities

An Appeals Settlement Guideline for Qualified Research Expenses – Extraordinary a for Utilities, UIL 41.51-01 was released in late March that provides guidance on whether amounts incurred by a taxpayer for utilities expenses in buildings in which qualified research was conducted (“Research Buildings”) are qualified research expenses as defined in I.R.C. Sec. 41(b). Background: Taxpayers […]

Eye’s Forward

In the November 2008 BCP R&E Newsletter, we discussed a few areas of future growth and research & development in the energy industry – namely Distributed Energy and Carbon Management. With the current Obama-Biden Economic and Stimulus Plan likely to pass, there are several key components related to R&E that you should keep on your […]