The US House of Representatives has passed legislation that would simplify and strengthen the research and development tax credit and has included the provision in the US tax code. Companies conducting their development programs will be able to better estimate their tax liability and will not be burdened by uncertainty regarding whether or not the R&D Tax Credit will be extended. The R&D credit has been temporary since 1981.
Related Posts
US: HTS revision focuses on statistical reclassifications, Section 301 scope
July 08, 2026
The US International Trade Commission’s latest update to the Harmonized Tariff Schedule is primarily a housekeeping and scope-adjustment revision. HTSUS Revision 11, effective 2 July 2026, introduces no changes to standard MFN duty rates. Instead,
Read More
EU hits US, Chinese chemicals with heavy duties amid wave of future controls
July 08, 2026
Regulatory activity in the European Union this week was marked by a dual-pronged tightening of trade policy. The most immediate impact came from the imposition of severe new anti-dumping duties on key chemicals imported from the United States,
Read MoreUS: Trump Administration threatens 100% tariffs on EU digital tax plans
July 07, 2026
US President Donald Trump, on 26 June 2026, pledged to impose 100% tariffs on European countries that introduce new digital services taxes (DSTs) primarily targeting US-based companies. However, he made no mention of how he would legally
Read MoreUS: IRS reviews CbC report exchange status, makes no changes
July 02, 2026
The US Internal Revenue Service (IRS) published a reviewed version of its Country-by-Country (CbC) Reporting Jurisdiction Status Table on 1 July 2026. The previous update, released on 1 July 2025, reflected the addition of the competent authority
Read More
US walks away from USMCA renewal, eyes major trade overhaul
July 02, 2026
The Trump administration has declined to renew the US-Mexico-Canada Agreement (USMCA), putting the trade deal on a 10-year countdown toward possible termination. The announcement came following the agreement's mandatory six-year review and signals
Read MoreUS provides safe harbour for certain contributions to Trump Accounts under Working Families Tax Cuts
July 01, 2026
The Department of the Treasury and the Internal Revenue Service (IRS) announced, on 29 June 2026, that it issued Revenue Procedure 2026-25 providing a gift tax reporting safe harbour for certain contributions to Trump accounts created under the
Read More