On October 1, 2025, the IRS announced an extension for certain R&D Tax Credit reporting requirements, giving taxpayers more time to adapt to the revised Form 6765.
Host Dave McGuire sits down with R&D experts David Seibel, EA, and Garrett Duffy to unpack two major developments reshaping R&D credit planning and compliance.
Revenue Procedure 2025-28 provides long-awaited clarity for small businesses on the retroactive Section 174A election, allowing them to deduct 2024 R&E costs on their originally filed return while still amending 2022 and 2023. This guidance simplifies compliance, reduces administrative burden, and gives taxpayers greater certainty in planning for R&D expensing.
“Big Beautiful Bill” aims to reinstate the full expensing of IRC §174 expenditures beginning in 2025. This creates a unique planning opportunity for taxpayers who did not claim the R&D Tax Credit or properly amortize §174 costs during the 2022-2024 tax years.
In his latest piece in Forbes, Dave McGuire explores how the “Big Beautiful Bill” impacts CPAs and their clients, with updates to bonus depreciation, Section 179, and R&D expensing strategies.
Discover how the “One Big Beautiful Bill” provides businesses and CPAs a second chance to claim missed R&D tax credits. Learn about retroactive relief for tax years 2022-2024, the restoration of immediate expensing under Section 174, and how to maximize tax savings for innovation-focused companies.
Learn how the “Big Beautiful Bill” impacts R&D tax credit documentation, including critical changes to Section G of Form 6765. Explore new IRS reporting requirements for taxpayers with significant R&D expenditures and higher revenues, and discover strategies for CPAs to navigate increased audit exposure and ensure compliance with R&D claims.
Explore how the “Big Beautiful Bill” impacts R&D Tax Credits and Section 174 compliance for amended returns. Learn about special provisions for small businesses, Section 280C elections, and planning strategies for taxpayers looking to optimize deductions for 2022-2024 returns.
Discover how the reinstatement of Section 174 expensing affects R&D tax credit planning. Learn strategies for CPAs to optimize deductions, amend prior-year returns, and ensure compliance under the One Big Beautiful Bill (OBBB) tax reforms. Maximize R&D incentives and navigate IRS scrutiny.
With Section 174 amortization repealed and expanded R&D Credit reporting now in effect, CPA firms face critical decisions about amending returns, modeling tax strategies, and ensuring compliance ahead of 2025. This blog breaks down the planning paths available to taxpayers and highlights what firms must do now to prepare clients for new opportunities and obligations.
IRS Grants Extra Year for Section G Compliance—What Taxpayers Need to Know
On October 1, 2025, the IRS announced an extension for certain R&D Tax Credit reporting requirements, giving taxpayers more time to adapt to the revised Form 6765.
Originally, Section G (project-level reporting) was mandatory beginning in tax year 2025. In a surprising change, the IRS confirmed that Section G will remain optional for the 2025 tax year. Beginning in tax year 2026, Section G will become mandatory, except for:
- Taxpayers claiming the payroll tax credit, or
- Taxpayers with Qualified Research Expenses (QREs) of $1.5 million or less AND gross receipts of $50 million or less.
This extension gives companies valuable time to refine their systems and processes for tracking and reporting QREs by project.
The IRS also extended the transition period for R&D Credit refund claims until January 10, 2027. Taxpayers will still have 45 days to perfect their refund claims before the IRS issues a final determination.
While these changes provide welcome breathing room, taxpayers and advisors should not delay. Section G’s project-level reporting will soon be the standard, and proactive preparation now will ensure stronger, more defensible credit claims in 2026 and beyond.
McGuire Sponsel will continue to monitor IRS guidance closely and share updates as new developments unfold. In the meantime, taxpayers and advisors should use this extension as an opportunity to prepare for the upcoming project-level reporting requirements. If you have questions about how these changes may affect your client’s R&D Credit filings, we encourage you to reach out to our R&D Tax Credit Services team for guidance.
David Seibel is a Shareholder for the R&D Tax Credit Practice. He combines his knowledge of tax law with his engineering expertise to maximize companies’ research credits and reduce their overall tax burdens.
David ensures clients are receiving studies that meet the highest level of quality. He conducts fieldwork, produces detailed technical calculations, and builds narratives that accurately reflect each company’s research and experimentation activity.
Recent R&D Tax Credit Resources
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by David Seibel, EARevenue Procedure 2025-28 provides long-awaited clarity for small businesses on the retroactive Section 174A election, allowing them to deduct 2024...
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