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Additional IRS Guidance Surrounding 174 R&E Capitalization Requirements

Withum

The Internal Revenue Service (“IRS”) released Notice 2023-63 , on September 8, 2023, providing guidance surrounding the requirement to capitalize Section 174 research and experimental (“R&E”) expenditures for the 2022 taxable year.While many tax accountants and business professionals welcome the additional guidance, the timing was not ideal.

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SECURE Act 2.0 Provisions Coming in 2024 and Beyond – What Plan Sponsors Can Do Now

Anders CPA

Some provisions within the act will be introduced over the course of the next one to three years, making this the ideal time for plan sponsors to begin making preparations and adjustments to account for the amended regulations. Withdrawals can be made from emergency savings accounts tax and penalty-free. SECURE Act 2.0

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Last Week in Payroll: Summertime Tax Tips

ThomsonReuters

Among the book’s provisions include: (1) increasing the employer provided childcare tax credit for businesses, (2) creating a new general business credit equal to 10% of the eligible expenses paid or incurred in connection with onshoring a U.S. toward health or other benefits including paid leave starting in 2026. in 2023, $15.00

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