WASHINGTON (Reuters) – Lockheed Martin Corp is challenging the U.S. government in court over $ 13.6 million in research tax credits in a case that tests the often hazy line between research and production, with future R&D claims by other companies possibly at stake. The aerospace group argued in December in U.S. District Court that the Internal Revenue Service had wrongly rejected research tax credits Lockheed claimed for two projects: a space rocket launcher and a New York City surveillance system. The IRS disallowed Lockheed’s claims in May 2012. …
Taxes News Headlines – Yahoo! News
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