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How Neo.Tax’s AI will save controllers and engineers hundreds of hours this coming tax season

Neo.Tax’s AI solution connects directly with a company’s existing internal task-level data sources to create an accurate, exhaustive, and audit-proof IRC Section 41 filing.

For enterprise companies, tax season is equal parts stakes and tedium. To file an IRC Section 41 R&D Tax Credit at an innovative company, the time expenditure can become especially daunting. 

One of the big challenges faced by a controller or a head of tax during tax season is creating and then interpreting an accurate snapshot of all the work completed at a company during a given year. Traditionally, that process takes hundreds of hours: interviews with engineers, surveys, combing through project management system data, and more. That time expenditure was justified because the R&D tax credit is hugely valuable for innovative companies — but certainly, engineers and executives could be creating much more value if those hours were freed up. 

“Recently, a controller at an enterprise company shared with me that they spent 150 hours on R&D Taxes alone,” Neo.Tax Head of Sales Ben Eachus says. And that’s before considering the worst-case scenario: an audit means hundreds more hours of labor and possibly burdensome penalties for a company. Think of the value of redistributing those hours toward forward-looking strategy or other tasks needed for the company to succeed.

Neo.Tax’s AI solution connects directly with a company’s existing internal task-level data sources to create an accurate, exhaustive, and audit-proof IRC Section 41 filing. 

To learn more about how our groundbreaking technology works, download our White Paper: Leveraging AI in Conducting an IRC Section 41 R&D Tax Credit Study

Download Our White Paper: Leveraging AI in Conducting an IRC Section 41 R&D Tax Credit Study