Section 174 Update (2023 and 2024 Tax Years) – What CPAs have to do to Capitalize R&D Expenditures
The IRS released an advance version of Notice 2023-63 providing interim guidance intended to clarify the application of section 174, as amended by the “Tax Cuts and Jobs Act” (TCJA). The notice includes guidance addressing capitalization and amortization of specified research or experimental (SRE) expenditures under section 174, as amended. Based on our review and consultantion with […]