Source: http://taxalmanac.org/index.php/Notice_2010-45.html
Timestamp: 2020-06-06 12:56:51
Document Index: 688514721

Matched Legal Cases: ['§ 48', '§ 48', '§ 48', '§ 38', '§ 39', '§ 48', '§ 48']

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3 SECTION 3. ESTABLISHMENT OF THE QUALIFYING THERAPEUTIC DISCOVERY PROJECT PROGRAM
5 SECTION 5. QUALIFYING THERAPEUTIC DISCOVERY PROJECT PROGRAM
6 SECTION 6. APPLICATION FOR § 48D CERTIFICATION
7 SECTION 7. OTHER REQUIREMENTS
8 SECTION 8. GRANTS IN LIEU OF TAX CREDITS FOR QUALIFIED INVESTMENTS IN A QUALIFYING THERAPEUTIC DISCOVERY PROJECT
9 SECTION 9. SPECIAL RULES FOR CREDITS AND GRANTS IN LIEU OF TAX CREDITS
10 SECTION 10. DISCLOSURE OF INFORMATION
12 SECTION 12. PAPERWORK REDUCTION ACT
13 SECTION 13. DRAFTING INFORMATION
14 APPENDIX A - APPLICATIONS FOR CERTIFICATION OF QUALIFIED INVESTMENTS ATTRIBUTABLE TO QUALIFYING THERAPEUTIC DISCOVERY PROJECTS
15 APPENDIX B - CONSENT TO PUBLIC DISCLOSURE OF CERTAIN QUALIFYING THERAPEUTIC DISCOVERY PROJECT PROGRAM APPLICATION INFORMATION
.03 Significant Change in Plans. The taxpayer must inform the Service if the plans for a qualifying therapeutic discovery project change in any significant respect from the information set forth in the application for § 48D certification at any time prior to the date of certification. A significant change is any change, including any change that would affect the continuing accuracy of a statement made in the application, that a reasonable person would conclude might have influenced HHS’ evaluation. The taxpayer must contact Candace Fisher of the Small Business and Self-Employed Division on (651) 312-2109 (not a toll-free number), or by e-mail at acasec9023@irs.gov, at the time the taxpayer determines there has been a significant change to the plans for the project.
(a) For a certified applicant that requests a grant for its 2009 taxable year on a timely-filed Form 8942, or on an amended Form 8942 filed no later than September 30, 2010, the Department of Treasury will authorize payment to the certified applicant for its 2009 taxable year no later than October 29, 2010. If an applicant files an amended Form 8942 requesting a grant for its 2009 taxable year after September 30, 2009, and not later than the due date (including extensions) for filing the return for the 2009 taxable year, then the Department of Treasury will authorize payment to the certified applicant for its 2009 taxable year within 30 days after the request for the grant is filed.
(b) For an applicant with a 2009 fiscal year ending on or before September 30, 2010, the Department of Treasury will authorize full payment to the certified applicant no later than October 29, 2010, if the applicant's qualified investment reported on Form 8942 as having been paid or incurred by September 30, 2010, is equal to, or greater than, the amount of the qualified investment certified by the Service.
(c) For an applicant with a 2009 taxable year ending after September 30, 2010, if the applicant's qualified investment as reported on Form 8942 as having been paid or incurred by September 30, 2010, is less than the qualified investment certified by the Service, then the Department of Treasury will authorize payment to the certified applicant no later than October 29, 2010, for a grant equal to 50 percent of the applicant's qualified investment as reported on Form 8942 as having been paid or incurred by September 30, 2010. The remaining amount of the grant will be authorized for payment within 30 days after the end of the applicant's 2009 taxable year.
(2) Section 48D(f)(2) of the Code provides that if a credit was determined under § 48D with respect to the investment for any taxable year ending before the grant is made (A) the tax imposed under subtitle A on the taxpayer for the taxable year in which the grant is made will be increased by so much of the credit as was allowed under § 38, (B) the general business carryforwards under § 39 will be adjusted so as to recapture the portion of the credit which was not so allowed, and (C) the amount of the credit will be determined without regard to any reduction in the basis of any property of a character subject to an allowance for depreciation by reason of the credit.
The principal author of this notice is Julie Hanlon Bolton of the Office of Associate Chief Counsel (Passthroughs & Special Industries). For further information regarding this notice contact Julie Hanlon Bolton on (202) 622-3040 (not a toll-free call). For further information regarding the application for certification, the documentation to be submitted to the Service establishing that the requirements of § 48D(d)(3) of the Code are satisfied, and the issuance of the certification that the requirements of § 48D(d)(3) are satisfied, contact Candace Fisher of the Small Business and Self- Employed Division on (651) 312-2109 (not a toll-free number) or by e-mail at acasec9023@irs.gov. For further information regarding the selection criteria for HHS’ evaluation, contact JoAnne Goodnight at QTDP@mail.nih.gov.
APPENDIX A - APPLICATIONS FOR CERTIFICATION OF QUALIFIED INVESTMENTS ATTRIBUTABLE TO QUALIFYING THERAPEUTIC DISCOVERY PROJECTS
not imported, see n10-45 on IRS.gov
APPENDIX B - CONSENT TO PUBLIC DISCLOSURE OF CERTAIN QUALIFYING THERAPEUTIC DISCOVERY PROJECT PROGRAM APPLICATION INFORMATION
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