Thomson Reuters Checkpoint Releases Special Report for Tax Professionals on New...
Thomson Reuters Checkpoint Releases Special Report for Tax Professionals on New Capitalization Regulations
11 Dec 2013
New York — Thomson Reuters has released a report on the IRS’s important new regulations — dealing with Code Sec. 162(a) and Code Sec. 263(a) — that will impact virtually all taxpayers who acquire, produce, or improve tangible property.
“There is much for businesses to be pleased with in the final regs,” said Robert Trinz, a tax analyst at Thomson Reuters and an author of the report. “For example, under safe harbor elections, many businesses may be able to deduct their outlays for lower-cost assets, materials and supplies; and building owners may be able to deduct routine maintenance.”
The special report provides an overview of the new capitalization regulations, their most widely applicable new rules, and how they are to be applied in practice. The report is available for download at no cost at https://tax.thomsonreuters.com/RepairRegs.
The report is an example of the practical, insightful information available on Thomson Reuters Checkpoint, which provides research, news, analysis, and productivity tools to tax, audit, accounting, legal, trade, and finance professionals. Other recent Checkpoint reports include:
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