I have credit for Qualified Small Business Research. How do I claim it?
1.7k views |
Last modified 5/25/2020 9:53:19 AM EST
Qualified Small Business Payroll Tax Credit is the credit that can be claimed against the employer's share of social security tax for increasing the research activities. Form 8974 is used to find the qualified payroll tax credit amount that you can use in the current quarter.
If you have credit for Qualified Small Business Research, you can claim it while e-filing Form 941 with TaxBandits. Enter the credit amount in line 11a, Qualified Small Business Research Credit that can be claimed in the current quarter and attach Form 8974.
In TaxBandits, we offer an option to complete Form 8974 along with your Form 941 filing in a few simple steps.