Understanding The Changes to IRC 174 1 Credit
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Nov 15, 01:30 PM
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Until recently, section 174 of the US Internal Revenue Code permitted taxpayers who incurred research expenses to deduct them in the current year.
Due to a provision of the Tax Cuts and Jobs Act (TCJA), which takes effect for tax years beginning after December 31, 2021, taxpayers must change how they treat R&E expenditures under Section 174. The 2017 Tax Cuts and Jobs Act amended this provision to require that specified research and experimental (SR&E) expenditures are capitalized and amortized but delayed the effective date of this amendment, which applies to tax years beginning January 1, 2022, or later.
In this CE Tax webinar, we will cover numerous issues new Section 174 raises, and understand Changes to Section 174 that will significantly impact the tax treatment of research and experimental expenditures.
This course covers the following Major Topics:
Credits
Course Level
Instructional Method
Pre-requisites
Advance Preparation
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After successfully attending a live webinar and fulfilling all participation requirements, you can access and download your completion certificates from your account dashboard on our platform. These certificates are recognized by NASBA, IRS, CFP Board, HRCI, SHRM, Payroll Org, FP Canada, and 25+ other regulatory bodies for compliance and reporting purposes.
We issue instant credit certificates, ensuring they are valid for presentation to governing bodies. Typically, we report IRS, CTEC, CFP, IDFP, IWI, VBOA Ethics credits within 7 days – the fastest in the industry.
RC
Great examples - the 280C rule should be further clarified with better examples and explanation
GC
Informative presentation and materials. Gave a very thorough overview of 174.
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