Ag, Food & Beverage Managers Be Vigilant: A Tax Court case decided in April 2019 demonstrates the need to be attentive to well-known yet manageable R&D credit risks.
While managers may think they are safe because they’ve used an outside firm to help, they should be aware that not all outside firms do a minimally adequate job of assembling the documentation to defend these credits. (In some cases, these outside firms don’t even provide clients with a report that includes the supporting documentation!)
Such was the case in Siemer Milling v. Commissioner… insufficient documentation assembled by their outside firm on activities that would appear to easily qualify for the credit.
Click here to read more about the April 2019 court case.
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