Monthly CPA Newsletter : AUG–SEP 2025

R&E Expenditures (Rev. Proc. 2025-28)

• New guidance clarifies elections, amended returns, and method changes under OBBBA for Secs. 174, 174A, and 280C.

• Small businesses may apply retroactive treatment for domestic R&E costs (post-2021, pre-2025).

Payroll & Information Returns

• IRS confirmed no changes for tax year 2025 to Forms W-2, 1099, or withholding tables.

• OBBBA-mandated reporting for tips and overtime will begin in 2026.

Energy Credits & Deductions

• FAQs (Fact Sheet 2025-05) explain accelerated termination of several credits and deductions (Secs. 25C, 25D, 25E, 30C, 30D, 45L, 45W, 179D).

• Important for clients with energy-efficient property or clean energy investments.

AICPA Advocacy

• AICPA urged IRS to clarify retroactive research expense deductions (Sec. 174A).

• Comments submitted on proposed regs for corporate separations/reorganizations, highlighting documentation challenges