What is the Research Payroll Tax Credit?
What’s the research payroll tax credit and how does it work? On its website, the IRS answers this question for employers seeking to claim the research expense credit against their payroll tax liabilities. Employers report wages, income tax withholding and FICA taxes quarterly or annually. Qualified small businesses with eligible research expenses may claim up to $250,000 of payroll tax credit against the employer’s share of FICA taxes. Annual filers may need to file a special form to adjust the amounts reported. For details: https://bit.ly/2r8i3IX