The IRS issued final regulations to clarify rules related to the acquisition, production, or improvement of tangible property in September 2013. Anders has blogged in great detail about various aspects of the new regulations. One of the provisions we’ve addressed… Read More
On September 19, 2013, the IRS release regulations that clarify the rules related to the acquisition, production or improvement of tangible property. These were a long time coming as there was little or no guidance from the IRS on this… Read More
Few areas of the repair regulation generate as much controversy between taxpayers and the IRS as do the rules that relate to a unit of property (UOP). The ever-present dilemma for taxpayers is how to determine when an asset has… Read More
Whether your business is a sole proprietorship, “C” or “S” corporation, partnership, LLC or if you have rental property, the new repair regulations rules and requirements will apply.
The final tangible property repair regulations must be applied at the beginning… Read More
On September 13, 2013, the IRS issued the final tangible property repair regulations which generally apply to taxable years beginning on or after January 1, 2014, but also permit a taxpayer to choose to apply the temporary or final repair… Read More