IRS Releases Updated Tangible Property Rules

22 Jan IRS Releases Updated Tangible Property Rules

The IRS has issued long‐awaited regulations on the tax treatment of amounts paid to acquire, produce, or improve tangible property. These rules explain when those payments can be immediately expensed and when they must be capitalized. The new rules are lengthy and complex. These rules must be followed for tax years that begin after December 31, 2013.  Review these changes here: TPR Summary – FINAL

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