News & Articles

New Capitalization Regulations

Posted on Tue, Dec 24, 2013

The IRS and Treasury Department have released final regulations that affect the treatment of materials and supplies, capitalization of amounts paid to acquire or produce tangible property, and the capitalization and deduction of expenditures relating to the repair or improvement of tangible property. These regulations will have an impact on most taxpayers regardless of industry and the application is mandatory for tax years beginning after December 31, 2013.

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Tags: EHTC Services, Treasury Department, Taxpayers, IRS, CPA Firm, Echelbarger, New Capitalization Regulations, De Minimis Expensing Rule, EHTC