R&D Tax Credits

Can I retroactively claim R&D credits for 2022–2024?

Yes, for eligible small businesses (under $31 million in average gross receipts). The OBBBA created a retroactive relief window allowing these companies to amend 2022–2024 returns and deduct R&D costs previously subject to 5-year amortization. The election deadline is July 4, 2026.

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Trusted by companies that have claimed over $100M in incentives.

Expanded Answer

Can my business claim research and development tax credits for prior tax years?

It depends on your company size, but the OBBBA created new opportunities to do exactly that. Small businesses (≤$31M in average annual gross receipts): You may amend your 2022–2024 tax returns to claim full R&D deductions and receive cash refunds. The deadline is July 6, 2026, or earlier if the statute of limitations expires.Larger companies (above $31M threshold): You cannot claim retroactive cash refunds, but you can accelerate deductions on unamortized 2022–2024 R&D expenses over a 1–2 year period beginning in 2025.

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Even outside of OBBBA provisions, the R&D Tax Credit itself can generally be claimed on amended returns going back three years. Consulting a qualified tax advisor is recommended to assess your specific situation.IRS amended return guidance: https://www.irs.gov/forms-pubs/about-form-1040-x

What Qualifies

Activities that commonly qualify

Developing new software features or platform capabilities

Improving performance, scalability, reliability, or security

Building internal tools or technical workflows that required experimentation

Testing different technical approaches to solve engineering challenges

What Does Not Qualify

Work that usually does not qualify

Routine bug fixes with no technical uncertainty

Visual-only updates or minor design changes

Marketing, sales, and customer support work

General maintenance that did not require experimentation

Work already solved through an off-the-shelf implementation

Example Case Study

Example of claiming R&D credits for prior years

A company realizes it has been performing qualifying R&D activities for several years but never claimed the credit. After reviewing its past work, it identifies eligible expenses from 2022 through 2024.

Depending on its size, the company may amend prior returns to claim refunds or accelerate deductions under current rules. This creates an opportunity to recover value from work that was already completed.

Quick takeaway

If your team had to work through technical uncertainty, there is a good chance the work deserves a closer look.

Common Industry Examples

Companies that never claimed credits but performed R&D

Businesses that recently learned their work qualifies

Tech companies with prior-year development expenses

Firms affected by 2022–2024 amortization rules

Companies revisiting past tax filings for missed opportunities

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