Among the massive tax changes in the TCJA bill was a delayed time bomb targeting the 2022 tax year. As taxpayers hold their breath hoping for a fix from Congress, tax preparers need to grapple with the law currently on the books: Section 174 capitalization of research and experimentation (R&E) costs.
DESIGNED FOR
Any accounting and finance practitioner preparing or reviewing business tax returns for 2022
BENEFITS
- Understand Section 174 amortization and its impact on taxpayers
- Identify Section 174 costs
- Be aware of challenges and difficulties for the 2022 tax season
HIGHLIGHTS
- Legislative history and hopes for “the fix”
- Why Section 174 amortization is a game-changer for certain industries
- Identifying activities giving rise to Section 174 costs
- Section 174 research and experimentation (R&E) costs and Section 41 research and development (R&D) credit: similarities and differences
- IRS guidance and areas of uncertainty
COURSE LEVEL
Basic
ADVANCE PREPARATION
None