ARLINGTON, Va., Jan. 5 /PRNewswire-USNewswire/ -- 2009 and 2010 are likely to be viewed as momentous for the research and development tax credit. Many have argued that the R&D credit, as enacted by Congress under Internal Revenue Code Section 41, has numerous flaws that have limited its effectiveness. Michael Fishman and his colleagues from Alvarez & Marsal Taxand will share their perspectives on its impact on businesses with practitioners in BNA Tax & Accounting's forthcoming webinar, R&D Tax Credit: The Courts Weigh In on January 27, 2010.
Fishman and his colleagues from Alvarez & Marsal Taxand will discuss the important 2009 R&D Tax Credit judicial decisions in detail, provide an overview of the recent GAO report, and explore potential legislative changes to the credit as well. Overall, these were helpful and constructive R&D credit decisions for taxpayers. Tax planning ideas based on these judicial results and guidance will also be discussed.
"Many companies have had to weigh the credit's benefits against the burdens of implementing a process for capturing a credit that has never been permanent, is non-refundable and contains ambiguous statutory definitions," says Michael Fishman "The issues decided by the Courts are helpful and provide some clarity on many areas that have been contentious between taxpayers and the IRS."
"The R&D tax credit has been renewed numerous times since its original enactment under the Economic Recovery Act of 1981," says BNA Tax & Accounting Editor Karen Fickes. "The Obama administration, like those before it, wants to make the research credit permanent. A number of bills addressing changes to the credit now exist in Congress, including proposals to extend the credit for multiple years, to make the credit permanent, and to increase the Alternative Simplified Credit (ASC) rate from 14 percent to 20 percent. This will be an area of intense focus in the coming year," added Fickes.
Topics covered in this webinar include:
- Union Carbide v. Commissioner, TC Memo 2009-50 (March 10, 2009) - Documentation, Consistency Rule, & Process Improvements
- U.S. v. McFerrin, 570 F. 3d 672 (5th Cir. June 9, 2009) - Discovery Test
- FedEx Corp. v. U.S., 103 AFTR 2d 2009-2722 (W.D. Tenn. June 9, 2009) - Internal Use Software
- Deere & Companies v. Commissioner, 133 T.C. No. 11 (Oct. 22, 2009) - Foreign Gross Receipts
- TG Missouri v. Commissioner, 133 T.C. No. 13 (Nov. 12, 2009) - Supplies Expense
- Proctor & Gamble v. Commissioner (docketed) - Patent Expenditures
- GAO Report on Improving the Research Credit
- Legislative Outlook
- Concluding Thoughts
Participants will be able to:
- Describe the results of the 2009 R&D Tax Credit court decisions
- Understand the tax planning opportunities provided by these decisions
- Understand possible legislative changes that may affect the R&D Tax Credit in the near future
- Understand the implications of these decisions on financial reporting
About the Moderator
Jim Eberle, a Managing Director with Alvarez & Marsal Taxand, LLC, advises clients on tax accounting method matters with an emphasis on research and experimentation (R&D) credit issues.
With 30 years of tax advisory experience, including 20 years focused on research and experimentation credit consulting, he has conducted large scale R&D studies in a number of industries, including aerospace, automotive, defense, internet, telephony, and pharmaceuticals. In addition, he has led long term contract accounting method reviews and tax litigation assistance engagements.
Prior to joining A&M, Jim led the Research Tax Credit Services Practices of KPMG and Arthur Andersen. He has written and lectured on this subject and was directly involved in client matters ranging from credit feasibility to audit defense and litigation support. He has also worked with various taxpayer coalitions in crafting regulatory comments for consideration by IRS and Treasury.
About the Speakers
Kathleen King, a Managing Director of Alvarez & Marsal Taxand, LLC, has over 15 years of experience advising corporate clients on federal tax matters. Her experience includes helping clients claim, document and sustain tax incentives, including research tax credits, investment tax credits and fixed asset treatment. Her projects range from targeted consulting engagements designed to address a specific issue to large scale projects utilizing engagement teams working concurrently in multiple locations.
Prior to joining A&M, Ms. King was a senior manager with KPMG where she served as a National Resource for the Research Credit Services team. Previously, Ms. King was with Arthur Andersen. She was also a member of the firm's national Research Tax Incentives team. She has written several articles and regulatory comments on the research credit, and is a frequent speaker on research credit issues.
Michael Fishman, a Managing Director with Alvarez & Marsal Taxand, LLC, brings more than 14 years of experience advising clients on tax matters. His experience has included federal, state, and global research and development tax incentives, IRC Section 199 domestic production activities, meals and entertainment studies, jobs tax credit studies, and various other tax incentive programs.
Mr. Fishman has worked with companies at all stages of the business lifecycle -- from start-up companies to some of the largest corporations in the world. He has assisted clients across a wide range of industries, including pharmaceutical / life science, aerospace and defense, software, food products, industrial products and entertainment companies.
Brett Nowak, a Managing Director with Alvarez & Marsal Taxand, LLC, has more than 14 years of experience advising corporate clients on federal tax matters. His experience includes helping clients claim, document and sustain tax incentives, including research tax credits and investment tax credits. These reviews have ranged from sophisticated multi-year claims to isolated consulting projects.
Mr. Nowak has advised numerous Fortune 500 clients in a variety of industries including aerospace and defense, food products, manufacturing and software. Prior to joining A&M, Mr. Nowak was a manager with KPMG, where he served as a Regional Leader for the Research Credit Services team. Previously, Mr. Nowak was with Arthur Andersen. He was also a member of each firm's national Research Tax Incentives team.
R&D Tax Credit: The Courts Weigh In takes place January 27, 2010, from 3:00 - 4:30 pm, ET). Register for this webinar and obtain further information about CLE and CPE credits, go to: or call 1-800-372-1033, menu Option 6, then Option 1. The fee is $249 for BNA subscribers, $299 for nonsubscribers.
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About BNA Tax & Accounting Webinars
BNA Tax & Accounting is the foremost source of tax and accounting research, news, practice tools, and guidance for tax attorneys, CPAs, corporate tax managers, estate planners, and financial accountants. Designed for today's busy practitioners, our webinars offer the same expertise and relevance that are the hallmark of all BNA Tax & Accounting resources. In just 60-90 minutes, practitioners gain in-depth knowledge on a current tax or accounting topic from experts in that area -- and benefit from practical applications that can be put to work immediately. Conference attendees have the opportunity to ask the speakers questions, and may be eligible to earn CLE or CPE credits -- all from the convenience of their own office or conference room.
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