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Tax Update: New R&D Tax Credit Rules
This presentation will discuss the change in tax treatment of research and experimental (R&E) expenses as the result of the new tax regulations. There are significant impacts on how taxpayers claim and defend R&D credits. Prior to 2022, taxpayers were able to deduct or capitalize and amortize domestic or foreign R&E expenditures. The updated Section 174 guidelines changed that.

The discussion will include:
• A brief history of IRC Section 174 and the definition of R&E expenses
• The previous tax treatment related to Section 174 as well as changes resulting from the TCJA
• Limitations on availability and use of the credit
• The treatment of expenses for companies “carrying on” a trade or business versus “in connection with” a trade or business

Why is this important?
Over 150 U.S.-based businesses and trade associations recently issued a plea to the U.S. Senate and U.S. House of Representatives leadership urging Congress to extend Section 174 provisions allowing taxpayers to deduct 100% of Section 174 R&E expenditure in the year they were incurred. If this extension doesn’t happen, expenses must be capitalized and amortized for 5 years for domestic expenses and 15 years for foreign expenses.

Nov 30, 2022 12:00 PM in Central Time (US and Canada)

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