By ANGELA LAWRENCE
The IRS recently announced that the nearly 1.5 million taxpayers who have unclaimed tax refunds for tax year 2019 have until July 17, 2023 to submit their returns. It is estimated that almost $1.5 billion in refunds are as yet unclaimed, with an average median refund of $893.
The federal Research & Development (R&D) tax credit has long been an important incentive available to businesses engaged in eligible innovation activities. The opportunity to receive a dollar for dollar incentive has helped many companies fund new projects while offsetting expenses on current programs. The ability to claim and deduct eligible expenses in the year incurred has provided significant benefit.
By KLATZKIN TAX TEAM
Each year, the IRS releases its “Dirty Dozen,” a list of tax scams that taxpayers should be wary of. The list highlights common scams that put people at risk of losing money, personal information, data, and more.
