The U.S. Internal Revenue Service released a guidance document last week on the information that will be required in applications to obtain a Section 48D R&D tax credit under the Qualifying Therapeutics Discovery Project Credit of the Affordable Care Act. HHS will review information in the applications based on the merits of the science and impact on healthcare costs, while the IRS will be responsible for criteria related to increasing U.S. jobs and competitiveness in the life sciences field. Below are the selection criteria and how each criterion will be addressed in the application. Non-U.S. companies can apply, but must meet the same tests. Source: Internal Revenue Service