IRS Issues Guidance on Section 174 – No Form 3115 for 174 R&E Costs: Rev. Proc. 2023-11 has been issued by the IRS, offering simplified procedures for the first taxable year starting after December 31, 2021 (so calendar year taxpayers’ year 2022). Instead of...
The R&D tax credit was preserved in the final tax bill, known as the Tax Cuts and Jobs Act, thus retaining this important tax credit for businesses to continue to incentivize retaining R&D and tech jobs in the U.S. The Conference Committee also eliminated the...
