2015 R&D Tax Extension Filing Dates Drawing Near

In Federal

2015 extension filing dates for R&D Tax Credit claims are fast approaching. Key dates for 2015 are as follows:

Company Type Original Filing Date Extension Filing Date
Corporations (S,C) * March 15, 2015 September 15, 2015
Single-member & Multi-member LLC’s, Individuals, Partnerships, Estates and Trusts** April 15, 2015 October 15, 2015

*Tax returns for 2011 (originally filed in 2012) can be amended until March 15, 2015 or September 15, 2015, based on whether an extension was used in 2012.

**Tax returns for 2011 (originally filed in 2012) can be amended until April 15, 2015 or   October 15, 2015, based on whether an extension was used in 2012.

The World Economic Forum recently released The Global Competitiveness Index for 2014-1025 ranking the top innovative countries in the world. The U.S. ranked number 5 behind Finland, Switzerland, Israel and Japan respectively. U.S. companies are spending billions of dollars per year on R&D to promote innovation. Every one of these companies should be claiming the R&D tax credit and receiving a significant reduction in their tax liability.

Bottom line -no matter the industry, no matter the size – if your company is producing, developing, manufacturing or improving products or processes, you are conducting qualified R&D, and therefore deserve a beneficial tax credit.

Never claimed the R&D tax credit before? Not a problem. The specialists at Swanson Reed have extensive knowledge on the R&D tax credit and will manage the process every step of the way. No more wasting time or money – contact a Swanson Reed representative today for more information.

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