Notice 2024-12, page 616.

Notice 2024-12 clarifies and modifies Notice 2023-63, which provided interim guidance to address issues regarding specified research or experimental expenditures under § 174. Specifically, Notice 2024-12 clarifies and modifies Notice 202363 regarding (1) the treatment of costs paid or incurred by a research provider for research performed under contract, (2) the requirement that a taxpayer that chooses to rely on any of the rules described in Notice 2023-63 must rely on all the rules described in sections 3 through 9 of the notice, and (3) the obsoletion of section 5 of Revenue Procedure 2000-50.