NTA2417. R & D Update: IRC Section 174 Developments and Regulations

Starting with years beginning on or after January 1, 2022, the treatment of research and experimental expenditures has changed drastically from prior years. We will review the changes under the new code section 174, review the interim guidance under Notice 23-63 in September 2023 and Notice 24-12 in December 2023, and discuss new developments and strategies resulting from the changes.

Learning Objectives:

• Identify the change in law and reporting requirements starting with years beginning on or after Jan 1, 2022
• Distinguish the IRS interim guidance issues after implementation of the law