WASHINGTON – The IRS has enacted a provision championed by U.S. Senators Pat Roberts (R-Kan.) and Chris Coons (D-Del.), leader of the Senate’s Manufacturing Jobs for America initiative, that will make the valuable research and development tax credit more accessible to small businesses. The IRS announced a change to regulations this week that will for the first time allow small companies to claim the Alternative Simplified Credit, a simpler version of the R&D tax credit, on amended tax returns. Senators Roberts and Coons first proposed this change in the bipartisan Innovators Job Creation Act, introduced in January.

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To read the original article: IRS Makes R&D Tax Credit Accessible To Small Businesses