Simplified Credit Now Allowed on Amended Returns

Posted by Jeffrey Feingold on 06.05.14

In a much welcome and overdue change to the R&D Tax Credit rules, Treasury has announced TD 9666 allowing taxpayer's to elect the Alternative Simplified Credit ("ASC") calculation methodology on amended returns. Previously, the ASC method was only allowed on originally filed returns. This change will provide taxpayers with more options to claim the credit on amended returns. However, it does come with two limitations. Taxpayers that previously claimed the credit on an original return may not make the ASC election for that year on an amended return. In addition, taxpayers that are part of a controlled group may not make an ASC election on an amended return if any member of the controlled group for that year previously had claimed the credit using the regular calculation method. If you have any questions, please contact us at (800) 260-4138 or send us a message.


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