Every year, thousands of companies claim more than $10 billion in federal R&D tax credits. A significant percentage of those taking advantage of this benefit are small to medium-size companies. The R&D credit was first introduced in 1981, but has been getting more powerful ever since, and was recently made permanent in 2015.
Despite the upside of the credit, billions go unclaimed each year, because companies simply aren’t aware, or are misinformed. If you are a company that develops new or improved products, processes, or software, you could qualify for a federal (and state) tax credit.