In January 2015, the IRS release new internal use software (ISU) R&D Tax Credit regulations. The regs define specific ISU projects and provide new definitions for the innovation and significant economic risk test for the credit. ISU is now defined as software that is developed for use in general and administrative functions that facilitate or support the conduct of the trade or business.
Outline:
▪ Identify internal use software and exceptions
▪ Identify software that are not internal use
▪ Four part test and the additional Three-Part Test for IUS
▪ Computing the Credit
▪ IUS case studies
Understand the regs and how the credit works for IUS
Identify qualifying activities
Administer the Three-Part IUS test
Compute the R&D Tax Credit
KBKG
Director - R&D Tax Credit Services
michael.maroney@kbkg.com
267-615-8284
Michael Maroney is a Director with KBKG. He advises clients on tax matters related to federal and state R&D tax credits. He has advised numerous Fortune 1000 clients across a variety of industries. He has successfully defended his client’s R&D claims before the IRS and state taxing authorities. He has been an instructor on these topics for numerous CPA and industry associations and has authored articles related to federal and state R&D tax credits. Prior to joining KBKG, he’s been with two of the Big 4 firms.
ICS Tax
Senior Manager
laceyr@ics-tax.com
(310) 968-0970
Lacey J.S. Robb is the Northeast Practice Leader, Interim Pacific Coast Practice Leader for ICS Tax, LLC (ICS). She has over 14 years of tax and legal experience, which includes the Big Four accounting firms KPMG and EY as well as various law firms. Lacey specializes in the R&D credit and numerous other tax planning ideas. Her background in corporate taxation, M&A, SALT and complex tax issues allows her to provide a holistic approach for meeting client needs. Lacey received her B.A. in Psychology and Juris Doctorate from the University of North Dakota, as well as an LLM in Taxation from the University of Denver. Additionally, she has taken the core accounting classes from North Dakota State University. In her free time, she is an avid scuba diver and participates in annual marathons benefiting cancer research.
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