Here Are the Top 5 Concerns Tax Pros Have About R&D Amortization

Companies waited with bated breath at the end of 2022, hoping lawmakers would reverse a provision in the tax code that requires businesses to amortize their research and development costs over a period of five years.

That day never came.

Practitioners told Bloomberg Tax they encouraged clients subject to R&D amortization to extend their filing deadline this year in case the rule is reversed in Congress or guidance is released by the IRS. Still, the clock is winding down.

Businesses and their practitioners that have extended their filing date are ...