Small Business Week Reminder: Startups Can Choose New Option for Claiming Research Credit

IRS Press Release:

IR-2017-93, May 3, 2017                                                                                   

WASHINGTON — Eligible small business startups can now choose to apply part or all of their research credit against their payroll tax liability, instead of their income tax liability, according to the Internal Revenue Service. During National Small Business Week—April 30 to May 6—the IRS is highlighting tax benefits and resources designed to help new and existing small businesses.

This new option will be available for the first time to any eligible small business when filing its 2016 federal income tax return. Before 2016 […]