The Research Credit Group has introduced CrediTrak, a Web-based program that helps companies evaluate and track their research and development tax credits.

The software aims to simplify the R&D tax credit calculation and documentation process for CPA firms. CPA firms can use the expense-tracking features to gather support documentation for backing up R&D credit claims.

R&D tax credit claims have come under intense scrutiny from the IRS in the past two years, so many CPA firms now rely on third-party "boutique" firms to help them properly compute and substantiate R&D tax credit claims, according to the company. It noted that the IRS is increasingly rejecting the "canned" studies performed by these third-party firms because they tend to be performed on a contingent-fee basis and lack sufficient and expected documentation.

Pricing for CrediTrak ranges from $750 to under $10,000. For more information, visit www.creditrak.com.

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