Update: IRS Sets Effective Date for Repair vs. Capitalization Regulations

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Although the final regulations will not be issued until 2013 and implementation applies to tax years beginning on or after January 1, 2014, it is important that you are aware of the upcoming changes.

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.