EAM:Handling 2022 Foreign Labor Law 'Section 174 Research & Experimental Costs'.
(Doc ID 2879641.1)
Last updated on JUNE 27, 2022
Applies to:PeopleSoft Enterprise FIN Asset Management - Version 9.2 to 9.2 [Release 9]
Information in this document applies to any platform.
Starting in 2022, the foreign labor can be depreciated over 15 years, while the domestic for 5 years. This tax change is commonly referred to as 'Section 174 Research & Experimental Costs'.
Due to a tax law change, there is a need to find a way to track the capitalized labor cost by where they are incurred - foreign vs domestic.
Is there any functionality that is tailored to this change?
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