Payroll tax offset

In accounting, payroll tax offset means an election by a qualified small business — gross receipts under $5 million and none before the last five years — to apply up to $500,000 a year of its research credit against the employer share of Social Security and then Medicare tax. Elected on Form 6765 with a timely original return, claimed on Form 8974 from the next quarter.

Layer: Lexicon
Defined in: Lexicon
Also called: Research credit against payroll tax
Nearby: 4

Authority

This definition follows IRS — Instructions for Form 8974.

Every citation in this system, with the text we read and the date we checked it, is in US GAAP and where these rules come from.

What it is not called

Each of these is a real word for a different thing. Using it here is what makes a product read as though it was built by someone who has not done the work.

refundable R&D credit

Nearby in the catalog

No component names this concept outright. These are the ones in its part of the system, which is a weaker claim — but a component nothing links to is a component nobody finds.