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IRS Releases Rev. Proc. 2025-28: New Guidance on R&D Deductions Under OBBBA

Deb Roth, CPA August 29, 2025

IRS Releases Rev. Proc. 2025-28: New Guidance on R&D Deductions Under OBBBA On August 28, 2025, the IRS issued Rev. Proc. 2025-28, which provides procedures for making elections and changing accounting methods related to research and development (R&D) expenses under the One, Big, Beautiful Bill Act (OBBBA). This guidance is especially important for small businesses and creates immediate opportunities for CPAs to deliver value to clients. Why Rev. Proc. 2025-28 Matters For CPAs, this guidance is both compliance-driven and planning-focused.

IRS Releases Rev. Proc. 2025-28: New Guidance on R&D Deductions Under OBBBA

August 29, 2025 No Comments

IRS Issues New Guidance on Beginning of Construction Rules for Wind and Solar Tax Credits

IRS Issues New Guidance on Beginning of Construction Rules for Wind and Solar Tax Credits The Treasury Department and IRS have issued Notice 2025-42, providing updated guidance on the Beginning of Construction requirements for claiming Clean Electricity Production and Investment Tax Credits for wind and solar facilities. This update reflects

August 19, 2025 No Comments

one big beautiful bill

IRS Issues New Guidance on Beginning of Construction Rules for Wind and Solar Tax Credits

IRS Issues New Guidance on Beginning of Construction Rules for Wind and Solar Tax Credits The Treasury Department and IRS

Imran Syed August 19, 2025

A Guide to Qualified Production Property (QPP)

A Guide to Qualified Production Property (QPP) The One Big Beautiful Bill Act (OBBB) introduces IRC § 168(n), establishing a

Matt McKinney July 15, 2025

one big beautiful bill

The One Big Beautiful Bill Passes Senate: What CPAs Need to Stay Ahead

The One Big Beautiful Bill is Ready for the President’s Signature: What CPAs Need to Stay Ahead The One Big

Matt McKinney July 3, 2025

R&D

one big beautiful bill

IRS Releases Rev. Proc. 2025-28: New Guidance on R&D Deductions Under OBBBA

IRS Releases Rev. Proc. 2025-28: New Guidance on R&D Deductions Under OBBBA On August 28, 2025, the IRS issued Rev.

Deb Roth, CPA, Matt McKinney August 29, 2025

Georgia State Research Credit Carryforward Period Update

Georgia State Research Credit Carryforward Period Update The state of Georgia has announced a change to the carryforward period for

Source Advisors January 1, 2025

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R&D

Upcoming Changes to Form 6765: What Taxpayers Need to Know for 2024 and Beyond

Upcoming Changes to Form 6765: What Taxpayers Need to Know for 2024 and Beyond The Internal Revenue Service (IRS) is

Deb Roth, CPA October 2, 2023

R&D

Chief Counsel Advice Memorandum 20214101F

Chief Counsel Advice Memorandum 20214101F On Friday, October 15th, 2021, the Internal Revenue Service published Chief Counsel Advice Memorandum 20214101F. In

Deb Roth, CPA August 2, 2023

cost segregation operating loss paperwork

R&D | Cost Seg

House of Reps Unveiled Three Proposed Tax Bills

House Bills Spur Discussion of Business Tax Extenders On Friday, June 9, 2023, the House of Representatives unveiled three proposed

Brian Coddington June 12, 2023

R&D

Revised IRS Procedural Guidance Released

R&E Amortization Updates On December 12th, 2022, the Service released an advance copy of Rev. Proc. 2023-8, which provides procedural

Brian Coddington December 13, 2022

IRS Releases Rev. Proc. 2025-28: New Guidance on R&D Deductions Under OBBBA

Deb Roth, CPA August 29, 2025

Georgia State Research Credit Carryforward Period Update

Georgia State Research Credit Carryforward Period Update The state of Georgia has announced a change to the carryforward period for research credits beginning with tax periods after January 1, 2025. This change specifically addresses the duration within which unused research credits can be applied to offset future tax liabilities. Key

Source Advisors January 1, 2025

COST SEGREGATION

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Net Operating Losses Vs. Passive Activity Losses for Cost Segregation

Net Operating Losses Vs. Passive Activity Losses for Cost Segregation When the CARES Act temporarily revived five-year Net Operating Loss

Brian Coddington July 29, 2023

R&D | Cost Seg

House of Reps Unveiled Three Proposed Tax Bills

House Bills Spur Discussion of Business Tax Extenders On Friday, June 9, 2023, the House of Representatives unveiled three proposed

Brian Coddington June 12, 2023

Cost Seg

The Final Bonus Depreciation Regulations

The Final Bonus Depreciation Regulations On September 21, 2020, the IRS released an advance copy of the final bonus depreciation

Greg Bryant September 28, 2020

Cost Seg

The Current State of ADS Under the TCJA and CARES ACT

The Current State of ADS Under the TCJA and CARES ACT Introduction to the ADS The Alternative Depreciation System is

Greg Bryant September 20, 2020

Cost Seg

Proposed Section 1031 Regulations

Proposed Section 1031 Regulations On June 12th, 2020, the Treasury published REG-117589-18 in the Federal Register. These proposed reliance regulations provide guidance

Greg Bryant June 27, 2020

Cost Seg

Rev. Proc. 2020-22 Changes to the Section 163(J) Interest Limitation

Rev. Proc. 2020-22 Changes to the Section 163(J) Interest Limitation On April 10th, 2020, the Internal Revenue Service posted Rev.

Greg Bryant April 27, 2020

Net Operating Losses Vs. Passive Activity Losses for Cost Segregation

Net Operating Losses Vs. Passive Activity Losses for Cost Segregation When the CARES Act temporarily revived five-year Net Operating Loss (NOL) carrybacks and eliminated the 20% haircut, there were many articles written on using them in combination with the fixed “retail glitch” for Qualified Improvement Property (QIP). Often overlooked in

Brian Coddington July 29, 2023

House of Reps Unveiled Three Proposed Tax Bills

House Bills Spur Discussion of Business Tax Extenders On Friday, June 9, 2023, the House of Representatives unveiled three proposed tax bills. We view these bills as an opening offer, unlikely to pass in their present form, but they will inform later Congressional debate. In this summary, we will focus

Brian Coddington June 12, 2023

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§179D

IRS Announcement 2024-24: Updated Reference Standard 90.1 for § 179D

IRS Announcement 2024-24: Updated Reference Standard 90.1 for § 179D Announcement 2024-24 refers to the upcoming updates that will align

Imran Syed May 20, 2024

§179D | §45L

Inflation Reduction Act Tax Savings For Real Estate

Inflation Reduction Act Tax Savings for Real Estate On Tuesday, August 16, 2022, the Senate passed the Amendment of H.R. 5376,

Brian Coddington, Imran Syed July 21, 2023

45L | 179D

Treasury Releases Green Book

Energy Efficient Commercial Buildings Deduction On Friday, May 28th, 2021, the Treasury Department released the Green Book, also known as the

Brian Coddington June 4, 2021

§179D

Energy Efficient Commercial Buildings Deduction

Energy Efficient Commercial Buildings Deduction On December 27, 2020, a $1.4 trillion omnibus spending bill with tax extenders was signed

Imran Syed December 30, 2020

woman using phone with money signs floating above

R&D | §179D

New Bill Outlines Covid Relief and Economic Stimulus Provisions

New Bill Outlines Covid Relief and Economic Stimulus Provisions Congress passed the Appropriations bill, which included the latest Covid relief

Deb Roth, CPA December 12, 2020

IRS Announcement 2024-24: Updated Reference Standard 90.1 for § 179D

IRS Announcement 2024-24: Updated Reference Standard 90.1 for § 179D Announcement 2024-24 refers to the upcoming updates that will align the § 179D tax deduction with ASHRAE 90.1-2022. Energy Efficient Commercial Building Property (as defined under Section 179D of the Internal Revenue Code) placed in service after December 31, 2028,

Imran Syed May 20, 2024

Inflation Reduction Act Tax Savings For Real Estate

Inflation Reduction Act Tax Savings for Real Estate On Tuesday, August 16, 2022, the Senate passed the Amendment of H.R. 5376, “The Inflation Reduction Act.” This bill contains many energy-related tax provisions. For many building owners, developers, and designers, the most important provisions are the significant changes to the New Energy

Brian Coddington July 21, 2023

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45L

Notice 2023-65: New Guidance on Section 45L Energy Efficient Home Credit

Notice 2023-65: New Guidance on §45L Energy Efficient Home Credit Section 45L Energy Efficient Home Credit was extended and amended

Imran Syed October 28, 2023

§179D | §45L

Inflation Reduction Act Tax Savings For Real Estate

Inflation Reduction Act Tax Savings for Real Estate On Tuesday, August 16, 2022, the Senate passed the Amendment of H.R. 5376,

Brian Coddington, Imran Syed July 21, 2023

45L | 179D

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