Rev. Proc. 2012-20, released on March 7, provides the change in method of accounting procedures related to depreciation and dispositions of property under the temporary and proposed regulations issued on December 23, 2011. These regulations address the deduction and capitalization of expenditures related to tangible property (temporary or repair regulations).
The IRS at the same time released Rev. Proc. 2012-19, providing rules for taxpayers making accounting method changes related to deduction and capitalization of expenditures under the temporary regulations.