RP-2023-08: Methods of accounting for specified research or experimental expenditures

Revenue Procedure 2023-08 modifies Rev. Proc. 2022-14, 2022-7 I.R.B. 502, to provide procedures under § 446 of the Internal Revenue Code and § 1.446-1(e) of the Income Tax Regulations to obtain automatic consent of the Commissioner of Internal Revenue to change methods of accounting for specified research or experimental expenditures to comply with § 174 of the Code, as amended by § 13206 of Public Law 115-97, 131 Stat. 2054 (December 22, 2017), commonly referred to as the Tax Cuts and Jobs Act.

Revenue Procedure 2023-08 will be in IRB: 2023-2, dated January 9, 2023.

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