Dec. 2006 RTC Extension
The House and the Senate are in the holiday spirit and giving US companies...
On December 9, 2006, after over a year of controversy, the Congress and the Senate passed the Tax Relief and Health Care Act of 2006 that will extend the research tax credit program that expired on December 31, 2005. With a $16.3 billion budget, the uncertainty is finally eliminated for fiscal years 2006 and 2007. The legislation is now going on to President George W. Bush for his signature.
In addition to the extension, effective January 1, 2007, the provision increases the value of the alternative incremental credit and adds a new alternative simplified credit. However, businesses should be careful in opting for the alternative incremental credit or the new alternative simplified credit. These choices may limit their ability to use the RTC in the future and could mean a lower return.Braithwaite Global makes the RTC program accessible to both small and medium size companies so that large companies such as Palo Alto, California-based Hewlett- Packard Co., and St. Louis-based Monsanto Co. are not the only ones who benefit!
Braithwaite Global has over 20 years of experience solely in the RTC. Our broad range of services include: credit recovery, planning, claiming, training, reporting methodology/systems and audit and litigation support. We specialize in engineering and technology and will perform a review which examines every aspect of your business operations to recover the maximum amount of credits. Combined with our tax knowledge, we provide a comprehensive technical report and documentation package that will fully support your RTC claim in the event of an audit.
Because of the highly specialized nature of the RTC program, and its demanding work requirements to provide a solid claim, our flexible fee structure and no-risk services offer an ideal outsourcing option.