Partly to counteract the effect of the U.S. economic downturn, there are many U.S. income tax incentives available currently, particularly to manufacturers. They target specific areas, including exporting, capital expenditures, research and development, and commodities inflation. These rules are too often overlooked by small to mid-sized companies who might benefit from them. The U.S. government has attempted to provide various means over the years to facilitate the competitiveness of U.S. business in international trade. There is frequent turnover of these rules as the World Trade Organization often challenges them. It is beneficial to be aware of expired rules as well as current ones, however, as companies have up to three years after their return filing date to amend their income tax returns for anything that they might have missed.
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