The IRS has published its Internal Revenue Bulletin. The bulletin includes: 1) Rev. Proc. 2025-28, which instructs taxpayers on how to make various elections, file amended returns, or change accounting methods for specific research and experimental expenditures as provided under Section 70302 of the One, Big, Beautiful Bill Act; and 2) Notice 2025-38, which republishes the inflation adjustment factor and applicable amounts for calendar year 2025 for the clean electricity production credit allowable under section 45Y of the Internal Revenue Code. [Internal Revenue Bulletin 2025-38 (Sept. 15, 2025)]
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