{"id":12819,"date":"2023-12-20T17:54:14","date_gmt":"2023-12-20T17:54:14","guid":{"rendered":"https:\/\/taxops.com\/?p=12819"},"modified":"2023-12-20T17:55:46","modified_gmt":"2023-12-20T17:55:46","slug":"seeking-legislative-change-to-bad-tax-policy-on-%c2%a7174","status":"publish","type":"post","link":"https:\/\/taxops.com\/seeking-legislative-change-to-bad-tax-policy-on-%c2%a7174\/","title":{"rendered":"Seeking Legislative Change to Bad Tax Policy on \u00a7174"},"content":{"rendered":"\n<figure class=\"wp-block-image size-full\"><img decoding=\"async\" width=\"957\" height=\"741\" src=\"data:image\/gif;base64,R0lGODlhAQABAIAAAAAAAP\/\/\/yH5BAEAAAAALAAAAAABAAEAAAIBRAA7\" data-src=\"https:\/\/taxops.com\/wp-content\/uploads\/2023\/12\/section-174-continues-to-plague-businesses-4.png\" alt=\"\" class=\"wp-image-12816 lazyload\" data-srcset=\"https:\/\/taxops.com\/wp-content\/uploads\/2023\/12\/section-174-continues-to-plague-businesses-4.png 957w, https:\/\/taxops.com\/wp-content\/uploads\/2023\/12\/section-174-continues-to-plague-businesses-4-480x372.png 480w\" sizes=\"(min-width: 0px) and (max-width: 480px) 480px, (min-width: 481px) 957px, 100vw\" \/><noscript><img decoding=\"async\" width=\"957\" height=\"741\" src=\"https:\/\/taxops.com\/wp-content\/uploads\/2023\/12\/section-174-continues-to-plague-businesses-4.png\" alt=\"\" class=\"wp-image-12816 lazyload\" srcset=\"https:\/\/taxops.com\/wp-content\/uploads\/2023\/12\/section-174-continues-to-plague-businesses-4.png 957w, https:\/\/taxops.com\/wp-content\/uploads\/2023\/12\/section-174-continues-to-plague-businesses-4-480x372.png 480w\" sizes=\"(min-width: 0px) and (max-width: 480px) 480px, (min-width: 481px) 957px, 100vw\" \/><\/noscript><\/figure>\n\n\n\n<p class=\"wp-block-paragraph\"><\/p>\n\n\n\n<blockquote class=\"wp-block-quote is-layout-flow wp-block-quote-is-layout-flow\">\n<p class=\"wp-block-paragraph\"><em>Accounting for Section 174 continues to plague companies with no Congressional relief so far. Jamie Overberg dropped in at Colorado Senators\u2019 offices in Washington, DC to educate legislators and their staff on the devastating impact on businesses, as well as solutions to ease the burden.<\/em><\/p>\n<\/blockquote>\n\n\n\n<p class=\"wp-block-paragraph\">Accounting for Section 174 continues to plague companies with no Congressional relief so far. The tax treatment under \u00a7174 changed with the Tax Cuts and Jobs Act of 2017 (TCJA), affecting expenses incurred beginning with the 2022 tax year. The impact of these adjustments to \u00a7174 and determinations for some companies, particularly smaller and loss companies, has been disastrous. As of this writing, the U.S. Congress was still considering reversing or altering its post-TCJA treatment of \u00a7174 expenses.&nbsp;&nbsp;<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Jamie Overberg, partner at TaxOps Minimization, dropped in \u2013 unannounced \u2014 at the Colorado Senators\u2019 offices in Washington D.C. to educate legislators and their staff on the devastating impact on businesses. While Senator Michael Bennet from Colorado was unavailable, his staff welcomed Jamie in and took copious notes as she outlined the issues and solutions for businesses. While Jamie was unable to meet with Senator John Hickenlooper, his staff had Jamie provide a written explanation of the importance of this issue for U.S. businesses.&nbsp;<\/p>\n\n\n\n<p class=\"wp-block-paragraph\"><strong>Regulatory Update<\/strong>&nbsp;<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">The U.S. Treasury and IRS released a joint&nbsp;<a href=\"https:\/\/taxops.us21.list-manage.com\/track\/click?u=ff5d1f31e7c53f48fa597324f&amp;id=94ff9c899f&amp;e=db3e962adc\" target=\"_blank\" rel=\"noreferrer noopener\">Notice 2023-63<\/a>&nbsp;to primarily announce that proposed regulations are coming to address modifications to the treatment of \u00a7174, particularly in relation to R&amp;D expenses (<em>see&nbsp;<\/em><a href=\"https:\/\/taxops.us21.list-manage.com\/track\/click?u=ff5d1f31e7c53f48fa597324f&amp;id=7c75501c3d&amp;e=db3e962adc\" target=\"_blank\" rel=\"noreferrer noopener\"><em>Guidance is out on \u00a7174<\/em><\/a><em>)<\/em>. We will keep you apprised as this guidance evolves into final regulations.&nbsp;&nbsp;<\/p>\n\n\n\n<p class=\"wp-block-paragraph\"><a href=\"https:\/\/taxops.us21.list-manage.com\/track\/click?u=ff5d1f31e7c53f48fa597324f&amp;id=3f0ca44624&amp;e=db3e962adc\" target=\"_blank\" rel=\"noreferrer noopener\">Contact<\/a>&nbsp;your TaxOps Minimization Advisor with any questions.&nbsp;<\/p>\n\n\n\n<div style=\"height:26px\" aria-hidden=\"true\" class=\"wp-block-spacer\"><\/div>\n\n\n\n<h3 class=\"wp-block-heading\">Let&#8217;s Talk Tax<\/h3>\n\n\n\n<div style=\"height:73px\" aria-hidden=\"true\" class=\"wp-block-spacer\"><\/div>\n\n\n\n<div class=\"wp-block-buttons is-layout-flex wp-block-buttons-is-layout-flex\">\n<div class=\"wp-block-button\"><a class=\"wp-block-button__link wp-element-button\" href=\"https:\/\/taxops.com\/contact\/\" target=\"_blank\" rel=\"noreferrer noopener\">Book Time with a TaxOps Advisor<\/a><\/div>\n<\/div>\n\n\n\n<div style=\"height:73px\" aria-hidden=\"true\" class=\"wp-block-spacer\"><\/div>\n\n\n\n<h3 class=\"wp-block-heading\">More Tax News<\/h3>\n\n\n<ul class=\"wp-block-latest-posts__list wp-block-latest-posts\"><li><a class=\"wp-block-latest-posts__post-title\" href=\"https:\/\/taxops.com\/auditor-independence-in-the-age-of-private-equity\/\">Auditor Independence in the Age of Private Equity: What CFOs Need to Know<\/a><\/li>\n<li><a class=\"wp-block-latest-posts__post-title\" href=\"https:\/\/taxops.com\/r-d-credits-for-software-companies\/\">R&amp;D Credits for Software Companies: Scrum Teams, Qualifiers, and Section 174 After OBBBA<\/a><\/li>\n<li><a class=\"wp-block-latest-posts__post-title\" href=\"https:\/\/taxops.com\/section-174-decoupling-what-tax-pros-need-to-know-state-by-state\/\">Section 174 Decoupling: What Tax Pros Need To Know State By State<\/a><\/li>\n<li><a class=\"wp-block-latest-posts__post-title\" href=\"https:\/\/taxops.com\/sean-espy-new-partner\/\">TaxOps Welcomes Sean Espy as Partner, Tax Minimization<\/a><\/li>\n<li><a class=\"wp-block-latest-posts__post-title\" href=\"https:\/\/taxops.com\/state-nexus-demystified-navigating-tax-compliance-after-wayfair-episode-1-2\/\">Your Tax Footprint Is Probably Bigger Than You Think: What Finance Leaders Need to Know About State Nexus<\/a><\/li>\n<\/ul>\n\n\n<div style=\"height:73px\" aria-hidden=\"true\" class=\"wp-block-spacer\"><\/div>\n","protected":false},"excerpt":{"rendered":"<p>Accounting for Section 174 continues to plague companies with no Congressional relief so far. Jamie Overberg dropped in at Colorado Senators\u2019 offices in Washington, DC to educate legislators and their staff on the devastating impact on businesses, as well as solutions to ease the burden. Accounting for Section 174 continues to plague companies with no [&hellip;]<\/p>\n","protected":false},"author":3,"featured_media":12816,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_et_pb_use_builder":"","_et_pb_old_content":"","_et_gb_content_width":"","spt_transcript":"","footnotes":""},"categories":[78,226],"tags":[1099,252,388,31,32,1110,284,994,33,126,58,1107,1063,120,1108,41,1109,1104,1106,48,50,613,237],"class_list":["post-12819","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-tax-savings","category-tax-news","tag-1099","tag-accountant","tag-accounting-professionals","tag-business","tag-business-tax","tag-calculation","tag-cfo","tag-controller","tag-corporate-tax","tag-cpa","tag-credits","tag-dollar-for-dollar","tag-incentives","tag-innovation","tag-irs-audits","tag-nexus","tag-preparation","tag-qre","tag-qualifying-expenses","tag-rd","tag-research-credit","tag-tax-credits","tag-technology"],"aioseo_notices":[],"jetpack_featured_media_url":"https:\/\/taxops.com\/wp-content\/uploads\/2023\/12\/section-174-continues-to-plague-businesses-4.png","_links":{"self":[{"href":"https:\/\/taxops.com\/wp-json\/wp\/v2\/posts\/12819","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/taxops.com\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/taxops.com\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/taxops.com\/wp-json\/wp\/v2\/users\/3"}],"replies":[{"embeddable":true,"href":"https:\/\/taxops.com\/wp-json\/wp\/v2\/comments?post=12819"}],"version-history":[{"count":2,"href":"https:\/\/taxops.com\/wp-json\/wp\/v2\/posts\/12819\/revisions"}],"predecessor-version":[{"id":12822,"href":"https:\/\/taxops.com\/wp-json\/wp\/v2\/posts\/12819\/revisions\/12822"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/taxops.com\/wp-json\/wp\/v2\/media\/12816"}],"wp:attachment":[{"href":"https:\/\/taxops.com\/wp-json\/wp\/v2\/media?parent=12819"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/taxops.com\/wp-json\/wp\/v2\/categories?post=12819"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/taxops.com\/wp-json\/wp\/v2\/tags?post=12819"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}