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News EssentialsThe Newsroom TopicsIRS Resources | Issue Number: IR-2022-235Inside This IssueTreasury, IRS provide updated guidance on accounting methods for specified research or experimental expenditures WASHINGTON — The Treasury Department and Internal Revenue Service today issued Revenue Procedure 2023-11 providing updated guidelines for accounting method changes for specified research or experimental expenditures. The new guidance, posted today on IRS.gov, modifies and supersedes Revenue Procedure 2023-8, issued earlier this month. Revenue Procedure 2023-11 is designed to encourage timely compliance with changes made by the Tax Cuts and Jobs Act, enacted in 2017. In general, the TCJA changes apply for specified research or experimental expenditures paid or incurred in taxable years beginning after Dec. 31, 2021. Thank you for subscribing to the IRS Newswire, an IRS e-mail service. If you know someone who might want to subscribe to this mailing list, please forward this message to them so they can subscribe. This message was distributed automatically from the mailing list IRS Newswire. Please Do Not Reply To This Message. |
Thursday, December 29, 2022
IR-2022-235: Treasury, IRS provide updated guidance on accounting methods for specified research or experimental expenditures
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