On our second installment of our Fed Talks miniseries: But why?, we discuss the purpose of incurred cost proposals (ICPs) with Baker Tilly subject matter specialist Drew Lewis. Questions addressed include:  

• What is an ICP and when are contractors required to prepare them?  

• How can contractors ensure that submitting an ICP is as simple as possible?  

• What types of changes are expected to be made to the ICP process?