Comprehensive Analysis of Final Repair/ Capitalization and Proposed MACRS Disposition Regulations

(Source: CCH Incorporated) — The IRS’s long and tortuous repair regulation journey neared comple­tion with the issuance of final repair regulations in T.D. 9636 on September 19, 2013, and Rev. Proc. 2014-16 (I.R.B. 2014- 7, January 24, 2014) detailing the account­ing method changes needed to comply with the regulations. Unfortunately for taxpayers (and their return preparers),[ … ]

Final Regulations: Capitalization of tangible property costs

Final regulations issued on the capitalization of tangible property costs – See Sample Policies In September of this year, the IRS released final regulations on the capitalization of tangible property costs. The final regulations provide an important opportunity—the de minimis safe harbor election—that allows eligible businesses to immediately expense certain property that would otherwise have[ … ]