Withum

OCTOBER 11, 2023

The Internal Revenue Service (“IRS”) released Notice 2023-63 , on September 8, 2023, providing guidance surrounding the requirement to capitalize Section 174 research and experimental (“R&E”) expenditures for the 2022 taxable year.While many tax accountants and business professionals welcome the additional guidance, the timing was not ideal.

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Cherry Bekaert

FEBRUARY 2, 2024

Megadeals Faced Enormous Hurdles Rising borrowing costs continued to impact private equity’s ability to finance large transactions. And while fund managers have been very creative in navigating the financing problem (in some cases financing deals with only equity), it has proven far more challenging when it comes deals above $1 billion.

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Withum

JULY 26, 2023

Instead, the Act would allow taxpayers to currently deduct research and experimental expenditures that are paid or incurred in tax years beginning after December 31, 2021, and before January 1, 2026. Taxpayer can elect to apply the broadened base to the 2022 taxable year or apply the broadened base to tax years starting in 2023.

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