Article
IRS Issues Procedural Guidance on OBBBA Treatment of R&E Expenditures
September 4, 2025ArticleIRS Issues Procedural Guidance on OBBBA Treatment of R&E Expenditures
September 4, 2025The IRS has issued Rev. Proc. 2025-28, outlining procedures for elections under new Section 174A from the One Big Beautiful Bill Act. The guidance highlights immediate steps for small business taxpayers regarding retroactive elections and details new options for deducting or amortizing domestic research costs.