When Will IRS Guidance on Section 174 Be Released? What Taxpayers Need to Know Before 2024 Extended Deadlines
The One Big Beautiful Bill Act (OBBBA), enacted July 4, 2025, finally fixed Section 174—bringing back immediate expensing of domestic R&D expenses starting in tax years beginning after December 31, 2024. But the law left a big question unanswered: How and when will the IRS issue procedural guidance to implement the changes? As businesses, CPAs, and tax advisors … Read more
