Long-awaited guidance provided for amortization of R&E expenditures

Long-awaited guidance provided for amortization of R&E expenditures

The IRS says taxpayers and tax professionals can rely on interim guidance under Sec. 174 for the amortization of research and experimental expenditures released on Friday in Notice 2023-63 until it issues proposed regulations based on the guidance, effective for tax years beginning in 2022.
Source: JOA News
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