Next year, changes made by the 2017 federal tax reform law are slated to modify Section 174 — the provision that allows manufacturers and other taxpayers to immediately deduct the cost of qualified research expenses. Under this modification, research expenses would be required to be capitalized and amortized over multiple years instead of being deducted in the year incurred. Now’s the time to consider what will be necessary if Congress fails to amend the provision. On Aug. 25, OMA Connections Partner Plante Moran will host a free webinar to discuss Section 174 rules and explain the changes on the horizon. Register here. 8/12/2021