Skip to main content

The IRS’s New R&D Documentation Demands

It’s no secret that the IRS is tightening its tax-compliance belt, promising an increase in the number of corporate tax audits, more transfer pricing scrutiny—and now according to the IRS’s Chief Counsel Memo released on October 15—new guidance regarding R&D tax credit refund claims. Why? The IRS wants to make screening refund claims for validity easier for the agency to handle, and a new level of documentation is a good place to start.