The IRS’s Large Business & International (LB&I) Division has issued a Directive on the evidence needed to substantiate qualified research expenditures (QREs). The Directive allows examiners to accept as substantiation the ASC 730 Financial Statement R&D amount for the credit year with certain adjustments. Adjusted ASC 730 Amount The ASC 730 Financial Statement R&D amount […]
The post LB&I Directive Provides Safe Harbor for Determining QREs for Research Credit appeared first on Tax & Accounting Blog.
