Update: Important IRS Regulation Changes Regarding Tangible Property

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On September 19, 2013 the Internal Revenue Service (IRS) finalized tangible property regulations on repair deductions and capitalization of expenditures related to tangible property. These regulations will have a wide range and direct effect on businesses in all industries that acquire, produce, replace, or improve tangible property.


Any accounting, business, or tax advice contained in this communication, including attachments and enclosures, is not intended as a thorough analysis of specific issues, nor a substitute for a formal opinion, nor was it written to be used to avoid tax related penalties.