In September 2023, the IRS published Notice 2023-63, announcing that the Treasury and IRS intend to issue proposed regulations clarifying the capitalization and amortization of specified research or experimental (SRE) expenditures under IRC 174.
Bloomberg Tax’s Research & Development Notice 2023-63 Overview is a comprehensive roadmap that will help tax professionals get clarity on how these SRE expenditures are treated for purposes of IRC 174, including the discussion of:
- Scope of IRC 174
- Whether certain activities constitute software development
- Clarity regarding research performed under contract for purposes of IRC 174
- Application of IRC 482 to cost sharing arrangements involving SRE expenditures
Download your complimentary copy now.