The IRS issued guidance for small businesses electing to use the research credit to offset up to $250,000 of the employer’s share of Social Security taxes. The election must be made on Form 6765 attached to a timely-filed income tax return, but for 2016 it can be made on an amended return filed by December 31, 2017 (with Form 6765 attached). Then new Form 8974 must be attached to the payroll tax return (Form 941).
Barbara Weltman
Big Ideas for Small Business, Inc.
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It's important to take care of ourselves and take steps to nourish ourselves--body, mind and soul. We may have to do this in different and creative ways now that many of us are staying at home. It's still important that we take time for ourselves. #selfcare #Health