October 15, 2021 IRS publishes Chief Counsel memorandum to clarify requirements for making a research credit claim for refund The IRS has announced (IR-2021-203) its publication of a new Chief Counsel memorandum (20214101F) detailing the information that taxpayers must include in a research credit claim for refund. Although existing regulations require a refund claim to "set forth sufficient facts to apprise IRS of the basis of the claim" to be valid, the Chief Counsel memorandum provides clearer instructions, according to the IRS. A Tax Alert forthcoming. | ||||