09/29/2023

ACEC Ohio Legislative Update--September 29, 2023

R&D Amortization Update

Update from Katharine Mottley, Vice President ACEC Advocacy Team:

I would like to update you on some of ACEC’s recent activity on R&D amortization. In addition to yesterday’s Board action to approve funds for a media campaign to support ACEC’s advocacy efforts on R&D amortization, we also hosted a timely virtual roundtable discussion that featured a legislative update and commentary from several CPAs on recent IRS guidance to assist firms with compliance.

We recorded the roundtable and you can view it here:  ACEC R&D Amortization Roundtable Zoom Vid.

During the roundtable, I mentioned that ACEC is collecting testimonials from member firms on the impact of R&D amortization on their firm. We already have several members who are willing to share their story on the ACEC website or in other ways, and we would love to have more. If you have members in your M.O. who are willing to provide a testimonial, please put them in touch with me (kmottley@acec.org).

Finally, I’m pleased to let you know that we have new cosponsors for the Senate R&D amortization repeal bill: Senator Shaheen (D-NH) and Senator Vance (R-OH). With these additions we are officially at 40 Senators sponsoring or cosponsoring S. 866!

Thank you for your continued engagement on this critical issue –

Katharine

Vice President of Tax and Workforce Policy

American Council of Engineering Companies

(202) 682-4306