Start-ups: Increase cash savings by claiming R&D payroll credits along with COVID-19 aid packages

USA pdf

Start-ups that are eligible to claim the R&D credit for payroll tax offset can increase the cash benefit by also taking advantage of recent novel coronavirus (COVID-19) aid packages. The Families First Coronavirus Response Act (H.R. 6201 or FFCRA) and Coronavirus Aid, Relief, and Economic Security (CARES) Act deliver federal assistance to employers by providing credits and incentives against their payroll taxes. Taxpayers can claim both the R&D payroll tax credit and the refundable credits provided by the two acts to increase cash savings.

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