We’ve shipped a series of improvements in the last couple months to help you save time and be confident in compliance.

Summary:

• R&D: Updated 6765 Form
• ASC 350-40 Export:
  • Show by project % math to your auditor
  • Capitalized $ Broken Out By SBC and Salary
• ASC 350-40: Recommended Capitalization Milestones (Alpha)
• Faster Monthly Resync + Other Performance Improvements

R&D Credit

New Form 6765

The IRS changed the form for the R&D credit for 2024 and we’ve got you covered. 😮‍💨

NeoTax now generates the complete and updated Form 6765 with all the new form fields (Officer Wages, # of Business Components, etc).

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Starting in 2025, larger companies are required to fill out more detailed documentation (Section G). With this update, you are ahead and prepare for 2025 now.

NeoTax already collects and calculates all the required information for 2025 and will fill out that section for you automatically next year.

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• Enhanced Project Descriptions to better emphasize key project elements
• Added Workday API integration support

ASC 350-40 Software Capitalization

Allocations By Month, By Project in the ASC Export

You can now easily walk your auditor step by step through the complete math behind the allocation.

This is available as a new sheet “Effort by Project by Person” in the ASC Export.