The OBBB creates a new bonus depreciation regime under IRC §168(n), allowing a 100% first-year depreciation deduction for certain...

The OBBB makes 100% Bonus Depreciation under IRC Section 168(k) permanent—eliminating the phase-outs introduced in the 2017 Tax Cuts and...

On October 22, 2024, the Treasury Department issued final regulations to implement the advanced manufacturing...

Last Tuesday, the IRS issued Proposed Regulations (RIN 1545-BQ54) on the Advanced Manufacturing Investment Credit, under Code Section...

The IRS issued final regulations removing the signature requirement for partnership IRC Section 754 elections. Under the final...

On July 28th, the House of Representatives approved legislation on semiconductor production and economic competitiveness, including an...

The IRS updated its Cost Segregation Audit Technique Guide as of June 1, 2022. The updates were as a result of changes in law, including...

In your year-end planning and consideration of deferring deductions and accelerating income, sales of property could have a big impact...

For purposes of determining the limitation on business interest expense under IRC section 163(j)(8), a IRC section 481(a) adjustment from...

The IRS LB&I recently retired four campaigns and added two new compliance campaigns. Of note, the Taxable Asset Transactions campaign...

The IRS released additional final regulations on IRC Section 163(j) providing guidance to the limitation on business interest expense...

Bipartisan legislation, entitled The Energy Efficient Qualified Improvement Property (E-QUIP)Act, was introduced in the House. The...

The IRS has issued final regs related to Section 1031 like-kind exchanges. In a nutshell, a Sec. 1031 like-kind exchange allows taxpayers...

The IRS has released guidance regarding additional first-year depreciation deductions for certain depreciable property a taxpayer...

The IRS has issued final regulations on the business expense deduction for meals and entertainment. The Tax Cuts and Jobs Act generally...

The IRS has issued another set of final regulations on the additional first-year depreciation deduction, otherwise known as 100% bonus...

The IRS has issued final regulations for taxpayers who claim the rehabilitation credit. For qualified rehabilitation expenditures paid or...

With 1031 exchanges on the rise, buyers shouldn’t lose sight of the ability to claim bonus depreciation on the carryover and excess basis...

The CARE Act, enacted on March 27, 2020 included, among other Congressional wish list items, the technical correction to the drafting...

The LB&I Concept Unit of the Internal Revenue Service recently issued a guide for examining taxpayers electing to recognize a partial...

Unlike the qualified improvement property error, correcting this would help owners of residential rental property reduce taxable income...

An administrative fix to the qualified improvement property recovery period issue seems to be out of reach. For year end planning,...