McGuire Sponsel – Peco Foods v. Commissioner, What does it Mean for Cost Segregation?

Peco Food, Inc. & Subsidiaries. v. Commissioner of Internal Revenue, is a recent court case that has raised several questions within the real estate and construction industries. Questions such as, “Does this mean we can’t do a cost segregation study on purchases?” and “How will this affect the industry”. The issue at hand is whether Peco may modify, for purposes of performing a cost segregation study, the purchase price allocations which it agreed to in connection with its acquisition of certain assets at two poultry processing plants. McGuire Sponsel, a specialty tax group that works with CPA firms feels this issue is important and could affect many taxpayers this year. Due to this, McGuire Sponsel is hosting a webinar to discuss the issue on Friday, February 3 at 11 a.m. EST.