You can find the
draft letter text here.
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Why it is important: The 174 capitalization change requires companies to capitalize and amortize research and development costs over five years instead of immediately expensing them, as previously allowed. This provision, enacted under the 2017 Tax Cuts and Jobs Act, has recently taken effect and may result in increased costs for startups conducting R&D. Policymakers need to know about the effects of this change on the startup ecosystem, so we are asking startups, innovators, and support organizations to sign on to a letter calling on Congress to immediately craft a fix.