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Research and Development › Internal Revenue Code (IRC) › New Legislation

Eversheds Sutherland (US) LLP

Low Hanging Fruit: IRS Releases Rev. Proc. 2025-28 Providing Procedural Guidance for Domestic R&D Costs While Taxpayers Await...

Eversheds Sutherland (US) LLP on

On August 28, 2025, the Internal Revenue Service (IRS) and Department of the Treasury (Treasury) released Rev. Proc. 2025-28 providing procedural guidance for taxpayers seeking to take advantage of the One Big Beautiful Bill...more

McCarter & English, LLP

What OBBBA Means for Businesses: Key Takeaways

McCarter & English, LLP on

On July 4, 2025, President Trump signed into law the legislation commonly referred to as the One Big Beautiful Bill or OBBBA, which includes several changes to the federal income tax treatment of trade or business activities....more

Cooley LLP

The ‘One Big Beautiful Bill Act’ Permits Immediate Deduction of Domestic R&E Expenditures, in Some Cases Retroactively

Cooley LLP on

On July 4, the “One Big Beautiful Bill Act” (OBBBA) was signed into law, which includes provisions restoring immediate deduction of domestic research and experimentation (R&E) expenditures in tax years beginning after...more

Williams Mullen

Implications of the One Big Beautiful Bill Act on Tax Deductions for Businesses

Williams Mullen on

President Trump signed the One Big Beautiful Bill Act (OBBB Act) into law on Friday July 4, 2025. Among other changes to existing federal tax laws (many of which are discussed by other alerts from this firm), the OBBB Act...more

Morgan Lewis

New Section 174A Restores Domestic R&E Deductibility, but Other Changes Bring Mixed Results

Morgan Lewis on

President Donald Trump signed into law the One Big Beautiful Bill Act on July 4, 2025. Among many other provisions, this bill permits taxpayers to deduct domestic research and experimentation (R&E) expenditures under new...more

Cooley LLP

Senate Changes to Proposed Legislation Would Permit Immediate Deduction of Domestic R&E Expenditures Permanently, in Some Cases...

Cooley LLP on

On June 16, the Senate Finance Committee (SFC) released revisions to the “One Big Beautiful Bill Act” (OBBBA) passed by the US House of Representatives on May 22. As described in this June 4 Cooley client alert, the OBBBA...more

Mintz

Overview of Recent U.S. Tax Reform Part I – Certain Significant Changes Impacting C-Corporations

Mintz on

On December 22, 2017, H.R. 1, the Tax Cuts and Jobs Act (the “Tax Act”) was signed into law. As the first comprehensive U.S. federal income tax reform in over thirty years, the Tax Act includes dramatic changes to tax...more

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