Planning Priorities for CFOs and Tax Executives

This guide outlines critical planning priorities for CFOs and tax executives in light of the 2025 tax shift. It emphasizes the need for organizations to evaluate their current positions and determine necessary actions across various risk and opportunity areas. The document details the implications of R&D expensing changes under Section 174, urging tax teams to reassess strategies and consider amending past returns to optimize deductions. Additionally, it discusses the increased IRS enforcement related to Employee Retention Credit (ERC) claims, highlighting the importance of audit preparedness and proper documentation. The guide also addresses clean energy tax credit strategies, stressing the alignment of investment timelines with new deadlines. It encourages proactive internal discussions and collaboration among finance, legal, and operations teams to navigate these changes effectively. Overall, the guide serves as a checklist for CFOs and tax leaders to prioritize actions that will influence tax liabilities and access to credits and deductions.