IRS creates a substantially streamlined path to realizing Research & Development credits, according to most recent examination guidance, creating a significant opportunity for eligible businesses.
Mark Dunning is the managing partner of TaxOps Minimization, where he leads an experienced team in implementing tax-saving projects. He has developed deep technical knowledge of the research credit across all industries, including automotive, engineering, medical, manufacturing and software. Mark has been responsible for the coordination, management and execution of some of the largest research credit studies performed by Ernst & Young. His work with small and mid-size companies has made him well-versed with the R&D issues they face as well. He consults regularly with clients on income tax accounting issues regarding the research credit.
Mark is an accomplished negotiator with the Internal Revenue Service and has built a positive rapport with field agents and tax authorities across the country. He managed four of the 23 Pre-Filing Agreement projects granted and closed by the IRS in the research credit area. He has also consulted and closed on several IRS and state audit and appeals cases, including the successful completion of two IRS research credit record-keeping agreement projects.
Mark began his professional career with Ernst and Young in tax compliance and provision preparation, before moving on to work exclusively with research credits and multi-disciplinary tax reduction projects, including domestic production deductions (section 199), uniform capitalization calculations, cost segregation and other federal and state credits. He left his position as an executive director at E&Y to join TaxOps Minimization.
Mark is a graduate of Brigham Young University, where he received a Bachelor of Science in Accounting and a Master of Accountancy in Taxation. He is a CPA and a member of the American Institute of Certified Public Accountants. He frequently writes and speaks about far-ranging business topics involving tax credits, deduction and deferrals.
Learn more about tax-saving credits, deductions and deferrals at TaxOps Minimization.
Read Mark's Insights
The R&D credit is now available to companies of all sizes, both profitable and unprofitable. Could your company be one of the beneficiaries?
Landmark legislation offers significant tax savings for businesses in 2015 and beyond.
The IRS has raised the de minimis limits under tangible property regulations to ease the administrative burden on small business taxpayers.
Congress is expected to once again cherry-pick provisions like the research credit for extension by year-end.