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Wayne Michigan Form 6765: What You Should Know
Counties have not filed Form 6765 as required under IRM 21.1.9.5, IRM 21.1.10, Credit for Increasing Research Activities and Other Credit For Increasing Research Activities. IRM 5.21.30.3.5, Credit for Increasing Research Activities — IRM 20.5.3.1, Research Tax Credit If taxpayers elect to claim Form 6765, the credits are reduced to the qualified tax credit and the credit rate is 20% (see section IRM 5.21.16.9, General Information on CCA/CR) If taxpayers do not elect to claim the credit using Form 6765 as provided in IRM 5.21.30.3.5, but do elect to make the credit available through the credit rate, that amount has to be reported on the return. Credit for Increasing Research Activities Program (IRM 5.23.2.3) The credits provided by the RAS program are reduced by the qualified tax credit. The qualified tax credit for research activities is the maximum credits of 100%, IRM 5.23.2.3.01, Qualified Tax Credit for Increasing Research Activities, and is the sum of the following. · Qualified Research Tax Credit Amounts and Credits · Research Activity Tax Credit Amounts and Credits A taxpayer's credit is reduced by the amount of the credits that were not taken advantage of to the full extent. IRM 5.23.2.3.04, Credit for Increasing Research Activity — IRS IRM 5.23.2.3.02, Credit for Increasing Research Activities (IRM 5.21.10.3) If you elect to use Form 6765 (credit for increasing research activities), claim the credits for each activity for which credit was claimed. IRM 5.23.2.3.03, Credit for Increasing Research Activities (IRM 21.1.4) You can only make your credit available by electing the research activity credit under IRC section 2412 or by applying for the maximum credit, if under 25%, under IRC section 2412(b)(6) or 2424(c). IRM 5.23.2.3.03, Credit for Increasing Research Activities (IRM 25.4.2.
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