The IRS released Rev. Proc. 2025-28 to provide guidance related to the One Big Beautiful Bill Act (OB3 Act) changes to the deductibility of research & experimental expenses under §174 and new §174A. Warning: this guidance is hard to digest.
Read More: https://www.tomtalkstaxes.com/p/ob3-act-research-expense-guidance (September 2, 2025)