Companies large and small are now faced with changes to how they account for certain expenditures and how they need to accumulate data due to the Section 174 changes that went into effect in 2022 as part of the Tax Cuts and Jobs Act (TCJA). 

"The guidance is straightforward for companies with only domestic section 174 costs but is less helpful for taxpayers with CFCs." Hear more from Managing Directors Kevin M. Jacobs and Kathleen King in their recent feature in Tax Notes on the approach taxpayers should take and the questions that are still left unanswered.