R&D Tax Credit Studies and R&D Audit Defense

Research and Development

The Research & Development (R&D) tax credit is the most significant of the few domestic tax credits remaining under current tax law-an important tool for maximizing a company's value. Companies now also have the ability to apply for the new Alternative Simplified Tax Credit (ASC). The ASC is particularly beneficial to companies that have not reported research credits in the past or have reported nominal credits due to the burdensome base amount rules.

One challenge most companies face is developing and substantiating the required documentation. It's a resource-intensive and highly specialized process. Another challenge is capturing all the global, federal and state R&D opportunities that exist.

Is your company currently maximizing Research & Development tax credits?

Select the appropriate industry for qualifying R&D activity:

Shockley Consulting brings value to companies of all sizes by focusing on the following items:

Federal Research Credits
Tax Accounting for Research Expenses
Global Incentives/Impact
State Research Credits
Other State Incentives
Financial Statement Impact

For our clients, we identify qualified R&D activities and expenses, develop documentation, data mine for contemporaneous documentation, defend the claim and structure prospective methodologies. We suggest processes to not only address the technical issues, but methodologies for fact gathering and document and cost collection to make the R&D claim process less onerous. requirements of your personnel.

Our methodology includes:

Phase 1 - A feasibility study that helps us understand your company and provides you with an estimate of benefits to be gained through a full R&D tax incentives study
Phase 2 - Comprehensive fieldwork based on knowledge of the benefits gained through the feasibility study
Phase 3 - IRS audit support, which includes helping you devise the IRS audit plan, developing statistical and judgmental samples, and handling pre-determinations, closing agreements and other issues.

The initial R&D tax incentive study serves as a platform for defining your company's specific research tax credit process for years to come. Going forward, we provide the right mix of consultative resources and technology to assist you in optimizing, documenting and sustaining these valued tax assets in an efficient manner.

Kimberly Shockley has over 10 years of Big 4 expertise in R&D Tax Credit Studies as well as Big 4 experience in defending large-dollar R&D audits.