Tax Refund from Writing Off R&D?

If you had domestic research and experimentation (R&D) costs in 2022, 2023, or 2024 for which you deducted the amount allowed—amortized over 60 months—you may be in for a deduction. The One Big Beautiful Bill signed into law on July 4, 2025, allows small businesses to expense these costs (instead of amortizing them) retroactive to 2022. “Small businesses” are those with average annual gross receipts in the 3 prior years not exceeding $31 million. Expect to see guidance from the IRS on how to handle this refund. #IdeaoftheDay