For the Accountant
RIX® Technology provides an exciting opportunity for public accounting firms that want to expand their services to taxpayers seeking R&D tax credits under Federal IRC §41 and State Research Tax Credit programs (which are widely available).
Utilizing RIX® Technology you can provide clients with an exceptional quality of service and a great value for services provided in this specialty area, while retaining a high level of participation to optimize their client’s tax planning. RIX® Technology offers many advantages to the public accounting practice.
RIX® Technology Benefits for the Accounting Firm
The RIX® Technology utilized an IRS approved system for web-based documentation of Research Tax Credits that has been in use by a major U.S. corporation under a formal IRS Research Credit Recordkeeping Agreement since 2006.
RIX® (for Resource Information Xchange) is an interactive, web-based information management system that provides easy-to-use, activity-based information requests, facilitates uploading and storage of relevant contemporaneous documentation, and streamlines the review & analysis of information gathered. The primary functions of the application provide an interactive Research Credit knowledge exchange for the taxpayer; allow remote reporting of Research Credit data by the taxpayer; analyze, test and document qualified activity and financial information; and facilitate remote Research Credit review by IRS. RIX® Technology provides a valuable conduit for the client to ask real-world questions and evaluate the credit worthiness of individual activities or projects to maximize tax credits. It is a great system that was proven very successful in its initial implementation.
For detailed information contact: email@example.com or 206.855.1700
Why does the taxpayer need RIX® Technology?
The Research Tax Credit has been available since 1981. Over $9,000,000,000 of §41 Research Tax Credits benefits are given out annually. Historically a high percentage of this benefit goes to a few of the nation’s biggest companies with huge legal and accounting resources. This is not what Congress intended.
Why should IRS approve of RIX® Technology?
For the IRS the review process for Research Credits is inefficient and expensive in IRS personnel time and travel expense. The inefficiency of the review process limits the total number of reviews that occur, restricts to availability of IRS specialists for support or advisory functions and is disruptive to the larger audit process.
RIX® Technology allows new levels of efficiency as remote review of Research Credit data during audits reduces travel expense, decreases audit schedules, expands availability of Research Credit specialist personnel and minimizes impact of audits on taxpayers for improved taxpayer relationships.