IRS updates the research credit form

Final versions of Form 6765, “Credit for Increasing Research Activities,” and its instructions have recently been issued. The form contains new lines and directions on the following rules applying to tax years beginning after Dec. 31, 2015: the rules allowing an eligible small business to have the research credit offset alternative minimum tax liability and those allowing a qualifying small business to elect to have a portion of the credit be a payroll tax credit.

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