irc section 181 expiring 2020

IRC Section 181 Set to Expire at Year End: What Does it Mean for your Motion Picture or Media Project?

When it passed in 2017, the Tax Cuts and Jobs Act failed to renew a provision contained in 2004’s Jobs Creation Act, known as Internal Revenue Code Section 181, which allowed film, television and media producers to immediately expense costs that would otherwise need to be capitalized and deducted over the course of ten years.…