JD Supra

IRS Issues Interim Guidance on Capitalization and Amortization of Research and Experimental Expenditures Under Section 174 of the Code

On September 8, 2023, the Department of Treasury (the Treasury) and the Internal Revenue Service (the IRS) released Notice 2023-63 (the Notice), which sets forth the Treasury and the IRS’s intent to ...
Forbes

Five Surprises About The U.S. Tax Research & Experimental Capitalization Requirement

Many were hopeful for U.S. tax legislation ensuring businesses could continue to fully deduct their research and experimental (“R&E”) expenditures in the 2022 taxable year. Senator Margaret Hassan ...
JD Supra

Sound familiar? IRS releases year-end procedural accounting method guidance regarding the treatment of R&D expenditures under Section 174

Not unlike the last minute procedural guidance released at the end of last year addressing Section 174, on December 22, 2023, the Department of the Treasury (Treasury) and the Internal Revenue Service ...
The Business Journals

Why many small businesses are getting hit with huge, unexpected tax bills

A change in the tax code that went unnoticed by many business owners is "potentially one of the scariest things that could happen to technology startups in recent years.” Surprise tax bills are ...