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Our National Statutory Credits group will perform an in-depth analysis of all relevant expansion factors, including capital spending, employment levels, training expenses, research and development expenditures and facilities listings. Our team has achieved a high level of success in finding income and franchise tax credits for taxpayers in a variety of industries, providing cash back to companies during a time when cash is king.
Our process typically encompasses four phases:
Assessment
· Conduct 1-3 day onsite review of current and past filings to determine potential opportunities. Minimal information and assistance are required from you for this review.
· Present initial findings and establish project scope.
Design
· Obtain key information to better assess opportunities—i.e., asset reports, employment runs, research and development work papers, training budgets and facility listings, among others.
· Utilize national network to determine if opportunities exist to enhance credits currently being claimed.
· Perform necessary research, draft technical memoranda,and secure necessary rulings and approvals to claim and maximize credits. Your organization will need to provide some assistance to our team in gathering the necessary information, but we will gladly manage the process of communicating with your internal departments.
Implementation
· Assess risks of filing claims based on other return positions taken.
· File amended returns and prepare necessary credit forms for current filings.
· Provide documentation package—i.e., audit binder—to assist with any state audits of the claims filed.
· Provide audit support and assistance.
· Provide a road map—i.e., compliance binder—to continue the newly established process. Typically, time will be required of you only for actions such as approving claims filed and helping support potential audits.
Maintenance
· Review current year filings to ensure carry forwards and current credits are claimed properly.
· Review business activities to determine if any new opportunities exist. Again, minimal information and assistance are required from you.
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Last Updated: May 11, 2006
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Source: Deloitte & Touche USA LLP - United States (English)
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