IRS Aims For Winter on Issuing R&D Amortization Regulations

The IRS intends to issue its regulations on the tax treatment of companies’ research and development costs this winter, an agency official said Wednesday.

The proposed rules, under Section 174, will be out in “a matter of months and not a lot of months,” said Scott Vance, associate chief counsel for income tax and accounting in the IRS Office of Chief Counsel, speaking at a virtual conference of the American Bar Association’s tax section.

The rules are “a priority item for us” and will be “more robust” in addressing some areas that the IRS addressed ...