By ANGELA LAWRENCE
The IRS utilizes many different methods of communication in order to educate the general public, but it also sometimes needs to directly contact an individual taxpayer about a specific issue. Here are some things to keep in mind if you are contacted by the IRS.
The federal Research and Development (R&D) tax credit not only encourages innovation but provides a significant tax saving opportunity. For many, the credit is so attractive because of the opportunity to deduct eligible expenses incurred as part of a project. When combined with the state-level saving opportunities, offered in both New Jersey and Pennsylvania, it is easy to understand the appeal of this lucrative credit.
