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Additional IRS Guidance Surrounding 174 R&E Capitalization Requirements

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OCTOBER 11, 2023

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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House Ways and Means Committee Introduces Potential Tax Extender Bill

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JULY 26, 2023

The Build It In America Act (HR 3938) addresses business taxpayer concerns regarding rising interest expense rates and deduction limitations on research and experimental expenditures, which could lead to drastically increased cash federal income tax payments.

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Additional IRS Guidance Surrounding 174 R&E Capitalization Requirements

House Ways and Means Committee Introduces Potential Tax Extender Bill

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