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Effective June 18, 2024, the IRS announced via a news release that it is waiving the requirement for taxpayers to provide the following two pieces of information with their refund claim related to the Research Credit:

1. The names of the individuals who performed each research activity.
2. The information each individual sought to discover.

However, taxpayers are still required to provide the following information when filing the refund claim related to Research Credit with the IRS:

1. Identify all the business components to which the Section 41 research credit claim relates for that year
2. For each business component, identify all research activities performed
3. Provide the total qualified employee wage expenses, total qualified supply expenses, and total qualified contract research expenses for the claim year. This may be done using Form 6765, Credit for Increasing Research Activities.

It is worth noting that while the IRS has waived the requirement to provide the two pieces of information mentioned earlier, there are instances where this information may still be required. For example, the IRS may request this information for further review if your refund claim for the Research Credit is selected for examination.