Tucked within the sweeping Tax Cuts and Jobs Act of 2017 (TCJA) was a change to the treatment of research and experimental (R&E) expenses under Sec. 174 of the Internal Revenue Code. Beginning January 1, 2022, the TCJA requires taxpayers to capitalize previously deductible R&E expenses. The TCJA provides a ratable amortization period of five years for R&E conducted in the United States and 15 years for non-U.S. activity beginning at the midpoint of the tax year incurred.

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