Tax Policy

Tax Policy

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The tax credit for qualified research expenses provides significant subsidies to encourage business investment in research intended to foster innovation and promote long-term economic growth. Generally the credit provides a subsidy for research spending in excess of a base amount, but concerns have been raised about its design and administrability. This report describes the credit's use, determines whether it could be redesigned to improve the incentive to do new research, and assesses whether recordkeeping and other compliance costs could be reduced. The author analyzed alternative credit designs using a panel of corp. tax returns and assessed administrability by interviewing IRS and taxpayer rep. Includes recommendations. Charts and tables.The Research Tax Credita#39;s Design and Administration Can be Improved James R . White ... almost universally told us that Internal Revenue Service (IRS) auditors are still applying the discovery test from Department of the Treasury regulations6 anbsp;...

Title:Tax Policy
Author:James R. White
Publisher:DIANE Publishing - 2010-05


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