Will Claiming the R&D Credit Result in an Audit?

At a glance The main takeaway: Claiming the R&D credit on a timely-filed return will not automatically trigger an audit, but any company benefitting from the credit should be prepared for the possibility. Thorough documentation and support from a skilled tax advisor can help. Impact on your business: An unsuccessful audit could result in the…

Read More

The Inflation Reduction Act and Transfer Pricing: Key Facts You Should Know

Digital currency concept art

At a glance The main takeaway: A portion of the IRS’s funding from the Inflation Reduction Act will be directed toward enforcement actions on corporations and high-net-worth individuals. Impact on your business: This increase in enforcement funding will most likely trigger more audits of transfer pricing arrangements, which means multinational businesses need to prepare proactively.…

Read More