Review of in-house or other provider claims
Our experts are often called upon to perform a review of a claim prepared in-house or by another provider. Options include:
- Financial and calculation based – inclusion of only qualified research expenses, utilization of the correct calculation methodology
- Tax and legislative based – review of inclusion of research activities to ensure compliance to regulations and taxation requirements
- Engineering and science-based – reviewing qualifying activities, documentation and substantiation, and overall reporting compliance
DST offers a detailed, impartial analysis of areas of exposure, or areas of opportunity.
How we best serve you
Step 1 – Assessment and Scheduling
Where applicable, DST will conduct a preliminary analysis in order to estimate the Research Tax Credit (RTC) benefit available under the Agreement Period. The deliverable from this step will include a “Project Initiation Letter” which may also include a proposed work plan outlining the action items to accomplish the remaining steps, and a time frame for completion.
Step 2 – Facility Site Visit(s)
This step will involve strategic site visit(s) and/or conference calls with Subject Matter Experts (SMEs) of the Client, as approved by the Client. The deliverable from this step may include Site Visit Summary of Findings Report(s).
Step 3 – Analysis of Qualified Research Activities (QRAs) and Qualified Research Expenses (QREs)
This step will involve a review of the activities, expenditures and contemporaneous documentation under the Agreement Period. The review will include qualification and exclusions found under IRC Section 41, regulations and case law. This step will also include the preparation of DST tools for documentation of QRAs, QREs and contemporaneous documentation.
Step 4 – Preparation of RTC Calculations & Forms
This step will involve the preparation of the necessary Federal & State RTC calculations for tax return filing purposes (or for tax attribute schedules). DST will provide support with regards to any review of such information by Client’s external tax return preparer, where applicable. Such support will be considered part of Schedule B – Fees for Services Rendered.
Step 5 – Technical Nexus
DST will develop an RTC framework that establishes “Nexus” among qualified activities, expenditures and corroborative records. The Nexus framework will be outlined in the Legend Narrative.
Step 6 – Project Management and Review
The DST management team will oversee project implementation, review and delivery, where applicable.
”That’s the difference between you and other providers - anyone can put together the numbers, but your team backs it up with science and engineering facts.
”We bid our RTC out to 4 large firms and DST was by far the best proposal. They showed better value and a better industry and business insight, spent the most amount of time with us to review our documents and have technical scope outs, and had the most thorough description of the opportunity. DST was the only firm to walk us through the steps and stages and had a clear timeline and milestone. It was a clear choice for us.
”We’ve worked with a lot of consultants over the years, but the level of professionalism and knowledge we got from the DST team was insurmountable. Their Tax Engineers worked with our operations and engineering teams to uncover qualified activities, and document them. Their Tax team walked us through the calculation and made sure that we had a good understanding of the numbers and trends. This level of full transparency is refreshing.
”DST did a tremendous job with our claim. The level of technical skills and overall organizational skills for our large company was unlike anything I’ve ever seen. They are among the best consultants I’ve worked with in my 25 year career.
”They check in with me quarterly to give updates. Our Engineers and technical staff really enjoyed working with them - what a change!
”We’ve used other providers and found that our report was a copy and paste from prior years. With DST Advisory Group, I was pleasantly surprised to see them take a fresh look at the claim every year.
”I used to have to manage the R&D process with our previous provider - it felt like I was doing most of the work! With DST they took that work off my plate and allowed me to follow the progress of the claim without having one more project to manage.