Rev. Proc. 2023-11: Updated guidelines for accounting method changes for specified R&E expenditures

Updated guidelines for accounting method changes for specified research or experimental expenditures to comply with section 174

Updated guidelines for accounting method changes for specified R&E expenditures

The IRS today released an advance version of Rev. Proc. 2023-11 [PDF 121 KB], modifying and superseding Rev. Proc. 2023-8 [PDF 133 KB] issued earlier this month (read TaxNewsFlash), to provide updated guidelines for accounting method changes for specified research or experimental (R&E) expenditures to comply with section 174, as amended by Pub. L. No. 115-97 (the “Tax Cuts and Jobs Act” (TCJA)).

Read a related IRS release—IR-2022-235 (December 29, 2022)

 

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