RSM submits second comment letter supporting deductibility of R&D costs
ARTICLE | March 07, 2023
Authored by RSM US LLP
RSM has submitted a second comment letter to U.S. congressional leaders addressing the requirement to capitalize and amortize research and experimental expenditures, as defined under section 174 of the Internal Revenue Code, in accordance with the Tax Cuts and Jobs Act as enacted in 2017.
RSM supports action to repeal this capitalization provision, which took effect for the tax year 2022 and reinstate the ability to immediately expense qualifying research and experimental costs under section 174.
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This article was written by Dan Ginsburg, Justin Silva and originally appeared on 2023-03-07.
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