AICPA Wants Guidance on Deducting Domestic Research

AICPA wants guidance on deducting domestic research

The American Institute of CPAs has sent a letter to the Treasury Department and the Internal Revenue Service asking for immediate guidance on a provision of the One Big Beautiful Bill Act allowing companies to fully deduct their domestic research costs this year.

AICPA urges guidance on small business research costs

The American Institute of CPAs (AICPA) has requested immediate guidance from the US Department of the Treasury and the Internal Revenue Service (IRS) on the recently enacted section 174A.   The section addresses the treatment of domestic research and experimental (R&E) expenditures, commonly referred to as domestic research costs, for small business taxpayers.  AICPA is advocating for Treasury and the IRS to allow eligible small business taxpaye…