IRS updates LB&I examination directive on credit for increasing research activities

IRS updates LB&I examination directive on credit for increasing research activities  https://www.irs.gov/newsroom/irs-upda https://accountinginstruction.info The IRS has revised guidance for examiners in the Large Business & International division (LB&I) reviewing the amounts claimed for the tax credit for increasing research activities.  The guidance to auditors issued today modifies a directive issued in 2017. The credit for increasing research activities (Internal Revenue Code § 41) enables taxpayers to receive a tax credit for qualified research activities (QREs).