Tax Warrior Chronicles

IRS Issues Long-Awaited Final Tangible Property Regulations

Posted on Mon, Sep 30, 2013

The IRS has issued long-awaited final regulations providing guidance on amounts paid to acquire, produce, or improve tangible property in its September 19th Federal Register. The finalized regulations modify and supersede the temporary regulations that were in effect since December 2011. This is the fourth time the IRS has issued these so-called “repair regulations” but the first time they have been in final form.

The regulations are more than 200 pages long! In today’s post, we will discuss two of the specific provisions that you may find helpful in the year-end tax planning for your business.


The De Minimis Safe Harbor Has Been Simplified

Prior to the final regulations, you were

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