174 Is Not Going Anywhere

In this episode of Let’s Talk Tax, host ⁠TJ Sponsel⁠ welcomes back guest ⁠David Seibel⁠, principal of McGuire Sponsel’s ⁠R&D Tax Credit Services⁠ practice. They discuss the ongoing uncertainty surrounding ⁠Section 174⁠ and its impact on CPAs and the R&D Tax Credit. Despite hopes for legislative changes, Section 174 amortization remains in place for the 2023 tax year, potentially extending to the 2024 tax year and beyond. David explains the implications of this, including compliance steps and documentation requirements for affected companies. They also touch on new compliance measures for the R&D Tax Credit in 2024 and offer insights and tips for CPAs and companies navigating these challenges.