ACPEN: Section 174: New Rules for R&E and OBBA Update

Overview

This course introduces the new OBBA standards that redefine how research and experimentation are reported. Participants will learn key regulatory updates, compliance expectations, and best practices for aligning research activities with OBBA's principles of transparency, accountability, and innovation.

**Please Note:  If you need credit reported to the IRS for this IRS approved program, please download the IRS CE request form on the Course Materials Tab and submit to terri.storer@acpen.com.

Highlights

• Revised rules for tax years 2022-2024
• How to change from amortizing R&E to immediately expensing R&E
• Analysis of the Revenue Procedure related to changes in accounting method
• Options available to change accounting methods
• Comprehensive example of how to make the accounting method change
• Distinction between R&E expense and R&E credit

Prerequisites

Basic knowledge of business taxation

Designed For

CPAs in public practice and industry seeking an update on the latest tax developments affecting research and experimental costs

Objectives

• Identify recent tax law changes affecting the deduction of research and experimental expenditures
• Apply compliance and planning strategies

Preparation

None