R&D Tax Break
U.S. Treasury puts final touches on clarification of R&D tax break
“The U.S. Treasury Department is finalizing rules, unveiled in September, that it says clarifies what is permitted under the research and development tax credit. The rules are expected to allow more types of activities to qualify for R&D tax breaks, potentially providing hundreds of millions of dollars in new savings for companies. The R&D tax credit was not renewed at the end of 2013, but lawmakers are preparing to retroactively extend it for 2014.” (Source: American Institute of CPAs)
Click here for the related article from The Washington Post.