Many companies, unfamiliar with the process and paperwork, leave Scientific Research and Experimental Development tax credits unclaimed. However, a successful claim can significantly improve bottom-line results and promote innovative thinking.
IAG Corp can contribute to your bottom-line in a variety of ways:
• Initial assessment to whether qualifying work exists. We normally review previous periods to identify any unclaimed activities which are still eligible. We also offer constructive suggestions on a proactive basis.
• Preparation of project technical descriptions. From review of your documents, and interviews with your personnel, our staff prepare cogent and timely project narratives that present your work in a forthright, compelling manner while identifying technical merit in the context of the program.
• Preparation of claim schedules. Working with your present accountant, we prepare the T661 form and any amendments to T1 or T2 schedules.
• Ongoing claim management. On your behalf, we follow the status of your claim through the review process, and we answer questions posed by CRA about technical and financial aspects of the claim.
• Support during review visits. CRA has a responsibility to all taxpayers, and review visits can sometimes be daunting to the claimant. We attend these visits to advocate your position and explain the reasoning behind the claim.
• Appeals. Once in a while, valid work can sometimes be rejected. If we feel that your work has been unfairly appraised, we will file a notice with the Chief of Appeals and follow through on your behalf.
Most of IAG Corp’s clients prefer to work on a contingency basis, that is, they exchange a portion of their rebate in exchange for a complete service from inception to refund cheque. For specific interventions, fixed or hourly fees may be more appropriate. Fees paid to us are deductible as a consulting expense, but not as an R&D expense.