The IRS extended for another year, until Jan. 10, 2024, the transition period during which it will allow taxpayers 45 days to perfect a refund claim involving a Sec. 41 research and development (R&D) credit to comply with new information requirements.
The IRS posted an update to the requirements on Friday, Sept. 30. The IRS originally provided a transition period until Jan. 10, 2023, during which taxpayers submitting an R&D credit claim could correct it within 30 days. The transition period is now extended to 45 days under the change. Learn more.