HMS Software Announces New Portal for R&D Tax Credits
Summary
Montreal, Canada, January 14, 2011 --( “Research and Development Tax Credits are offered all over the world by governments trying to encourage innovation and provide incentives to increase employment in certain industries,” says Chris Vandersluis, President of HMS Software.However, with great benefits come certain responsibilities and that includes being able to pass an audit for R&D activities.” HMS Software’s TimeControl has been used by numerous organizations to support R&D tax claims clients in a variety of jurisdictions around the world.“TimeControl was accepted by the Internal Revenue Service as providing excellent documentation of R&D engineering activities when applying for R&D Tax Credits,” explained Paulette Bennett, Division Controller of Parker Hannifin.“The compiling of our timesheet records for our R&D tax claim is handled by TimeControl,” explains Andre Richard, Director of EXFO’s Project Management Office.In the US, the Internal Revenue Service’s program for Research Credits also has standards for auditability.“TimeControl was accepted by the Internal Revenue Service as providing excellent documentation of R&D engineering activities when applying for R&D Tax Credits,” explained Paulette Bennett, Division Controller of Parker Hannifin.HMS has now made some of its corporate knowledge on R&D claims available through its new Research and Development Solution Center on its website.“The R&D Solution Center has a number of new and updated materials that will be of interest to those who are already doing R&D tax claims or are considering doing so in the future,” says Stephen Eyton-Jones, HMS Software’s Director of Technical Services.
