A firm may elect to spread the cost over at least 60 months
What the document says“be allowed an amortization deduction of such expenditures ratably over such period of not less than 60 months as may be selected by the taxpayer”
The section lets a taxpayer elect, under the Secretary's rules, to charge domestic research or experimental expenditures to capital account instead and take an amortization deduction spread evenly over a period of at least 60 months chosen by the taxpayer, beginning with the month benefits are first realized. The election must be made by the return's due date including extensions, must be followed in that year and later years unless the Secretary approves a change, and does not reach costs paid in an earlier year.
What the document actually says“be allowed an amortization deduction of such expenditures ratably over such period of not less than 60 months as may be selected by the taxpayer”
The cost may be written off bit by bit. The spread must run at least 60 months. The firm picks how long.
The choice must be made by the return date. Once made it must be kept. The Secretary may allow a change later.
No action is recorded against this proposal. That is not evidence that none has been taken, and nobody has yet read it against the record. See what the tracker does not yet cover.