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“Taxpayer-Favorable Regulations Expand the R&D Tax Credit for Customer-Facing Software Development”

About this Article:

Recognizing the vital role that computer technology plays in the U.S. economy, the IRS has issued proposed regulations expanding the research credit for software development.  In this 2015 Journal of Taxation article, Tax Credits Group President Michael Krajcer provides readers with an understanding of why financial institutions in particular will benefit from these new rules, which focus on software that enables third-party interaction with businesses.

In this article, you will learn the following:

  • Legislative history on Internal-Use Software as it relates to the R&D Tax Credit
  • How the 2015 proposed regulations help to clarify the definition of Internal Use Software and Non-Internal Use Software
  • Why financial institutions investing in technologies such as online banking, online investment services, web-based insurance quoting services, and mobile apps stand to benefit most from the new regulations

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