The IRS released the final tangible property regulations fall of 2013 and procedural guidance in early 2014. The final regulations generally apply to taxable years that begin on or after Jan. 1, 2014. The guidance addresses repair versus capital improvement treatment for tangible assets. These regulations will have a tremendous impact on many taxpayers, from large publicly traded companies to sole proprietors. This webcast covers what you need to know and the next steps to take to help your clients dissect these new rules.
Discussion topics will include: • What types of taxpayers are affected • The new de minimis rule • Small taxpayer safe harbor • Routine maintenance safe harbor • Transitional rules from the temporary to final regulations
Learning Objective: Understand the new final regulations and procedural guidance for tangible property.