The IRS released Notice 2023-63 offering additional guidance on the treatment of Section 174 specified research or experimental expenditures. This guidance is applicable to tax years ending after September 8, 2023. Taxpayers are not required to immediately follow the guidance provided by the notice but can choose to if all rules of the interim guidance are met.

A little over 18 months ago the unthinkable happened as COVID -19 ripped through our communities. Businesses were forced to close and employees were sent to work from home.  Employers and employees scrambled to establish a remote work "office".  Fast forward to today, the majority of businesses have reopened their doors but employees, given the option, have elected to work remotely in record numbers.