IRS Designates the Research Tax Credit as a Tier 1 Issue

The IRS designated the research tax credit as a Tier 1 issue pursuant to the IRS’s Industry Issue Focus (”IFF”)  program.  The IRS IFF program is intended to allow the IRS to focus its efforts in examining and developing guidance with respect to issues that occur in multiple industries.  This represents the IRS’s effort to re-focus its efforts now that the IRS has restructured along industry lines.