Prior to 2022, many taxpayers deducted research and experimental (R&E) expenditures when they were paid or incurred.

Question:

Prior to 2022, many taxpayers deducted research and experimental (R&E) expenditures when they were paid or incurred.
a. Explain how this pre-2022 treatment differs from their deductibility in 2022 and later years.
b. Would most taxpayers prefer the pre-2022 treatment of R&E expenditures or their treatment in 2022 and later years?

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