Research & Development Tax Credits Accounting and Auditing

IRS regulations finalized in 2003 make it significantly easier for more companies to qualify for the Research & Development Tax Credit. Record keeping requirements have been liberalized. The discovery test relating to new information has been significantly eased. Process improvements are now included as a qualified activity.

Who qualifies for the credit?

A Company Qualifies When One or More of These Criteria Are Met:

  • Fights to survive international and domestic competition.
  • Invests time, money or resources to advance or improve their products or processes.
  • Manufactures products.
  • Maintains a staff of technical personnel such as engineers, designers, labs, chemists.
  • Invests in continuous improvement projects.
  • Implements cost reduction initiatives.
  • Attempts to use new materials.
  • Adds new equipment.
  • Develops prototypes, jigs, fixtures and molds.
  • Automates or streamlines internal processes.
  • Develops new technologies.
  • Performs testing functions.
  • Develops, implements or upgrades systems or software.
  • Develops proprietary software applications for resale.
  • Obtains patents.
  • Spends money on outside consultants to do any of these things.

Some examples of the benefits of R&D Tax Credit studies

Industry Type Gross Sales Total Benefit Received
Plastic - Blow Moulder $49,000,000.00 $283,000.00
Metal Fabrication $42,000,000.00 $704,000.00
Plastic Consumer Products $20,000,000.00 $184,000.00
Equipment Manufacturer $24,000,000.00 $356,000.00
Instrument Manufacturer $8,000,000.00 $156,000.00
Consumer Products Manufacturer $16,000,000.00 $136,000.00


Why Choose Tax Credit Services?

Maximized Benefit

We ensure the federal and state benefit is maximized. Our R&D and technical expertise and your support allows us to accurately plan for your short- and long-term ability to maximize the federal and state credit.


Tax Credit Services has a proven track record for service and support.

Lessened Audit Risk

IRS requires contemporaneous documentation to support the credit claim. Tax Credit Services's R&D study methodology will achieve IRS requirements for credit claims.

Quantified Benefit

A pre-engagement visit to the facility ensures the estimated benefit analysis is realistic.

Fixed-Fee Billing

Our fees are straightforward and are based on an accurate pre-engagement analysis of the business -- No "contingent-based" or "success-based" billing.

Contact TCS today to get started down the path for R&D credits for your organization.