Who We Are:
Swanson Reed is one of the only companies in the United States to exclusively focus on R&D tax credit preparation. Swanson Reed’s office location at 318 West Adams Street, Chicago, Illinois provides R&D tax credit consulting and advisory services to Chicago, Aurora, Rockford, Joliet, Naperville, Springfield, Peoria, Elgin, Waukegan, Champaign, Bloomington, Decatur, Evanston, Des Plaines, Berwyn, Wheaton, Carbondale, Mount Prospect, Oak Lawn and Skokie.
If you have any questions or need further assistance, please call or email our local Illinois Partner on (312) 380-0467.
Feel free to book a quick teleconference with one of our Illinois R&D tax credit specialists at a time that is convenient for you. Click here for more information about R&D tax credit management and implementation.
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Illinois and the R&D Tax Credit
The Illinois Research and Development Credit (1299-D) is a non-refundable tax incentive available to corporations and flow-through entities. While previously set to expire on December 31, 2021, the credit has been officially extended through December 31, 2031. It offers a 6.5% credit on qualified research expenses (QREs) for qualifying research activities performed within Illinois. These activities must meet the Internal Revenue Code Section 41 definition, aiming for new or improved function, performance, reliability, or quality. Although the credit is non-refundable, any unused amounts can be carried forward for up to five years to offset future tax liabilities.
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R&D Tax Credit Preparation Services
Swanson Reed is one of the only companies in the United States to exclusively focus on R&D tax credit preparation. Swanson Reed provides state and federal R&D tax credit preparation and audit services to all 50 states.
If you have any questions or need further assistance, please call or email our CEO, Damian Smyth on (800) 986-4725.
Feel free to book a quick teleconference with one of our national R&D tax credit specialists at a time that is convenient for you.
R&D Tax Credit Audit Advisory Services
creditARMOR is a sophisticated R&D tax credit insurance and AI-driven risk management platform. It mitigates audit exposure by covering defense expenses, including CPA, tax attorney, and specialist consultant fees—delivering robust, compliant support for R&D credit claims. Click here for more information about R&D tax credit management and implementation.
Our Fees
Swanson Reed offers R&D tax credit preparation and audit services at our hourly rates of between $195 – $395 per hour. We are also able offer fixed fees and success fees in special circumstances. Learn more at https://www.swansonreed.com/services/our-fees/
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