News: final regulations

Final Regs Internal Use Software – R&D – What is the Dual Purpose Rule?

Final R&D tax credit regulations published by the Treasury on October 4, 2016 regarding internal use software introduce a new term, dual function software, as well as a safe harbor provision. Dual function software is “software developed for both internal …

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IRS Issues Final Regulations on Internal Use Software – R&D Tax Credits

The IRS has issued final regulations largely adopting provisions in the January 2015 proposed regs on internal use software. These final R&D regulations on internal use software are effective prospectively for tax years ending after October 4, 2016. The new …

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Treasury Issues Final Regulations on Repairs and Maintenance

On September 13, 2013, the IRS and Treasury Department released the final regulations (T.D. 9636) on repairs and maintenance providing guidance for the treatment of expenditures incurred in acquiring, producing, or improving tangible assets (commonly known as the repair and …

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