[seangrogg]

Partially! The text of the OBBBA actually made permanent the section of the tax code that treats software development as research and amortizes accordingly. However, because nothing can just be straightforward, it also allows domestic research expenses to be deducted immediately instead of amortized.

Definitely a much better tax situation but also not one we would've been in if not for the TCJA, and we still have an exposed oblique (the removal of the domestic research exclusion) that could put us back in the same spot unless the software development as research section is removed.