Federal tax services

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IRS and Treasury release proposed bonus depreciation regulations

The IRS and Treasury Department released proposed regulations implementing the expanded depreciation provisions under Section 168(k) enacted by the 2017 tax reform act (the Act). The regulations address issues such as the definition of qualified property, when used property is eligible for bonus depreciation, when property is acquired and placed in service, rules applicable to self-constructed property, how to compute the depreciation, and the time and manner for making elections.

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To learn more about the guidance, watch the replay of the Tax reform readiness webcast: Do the depreciation regulations provide a bonus?

A constantly evolving tax environment with IRS rulings, court cases, and legislation makes it all too easy for companies to miss potential cash flow opportunities. PwC’s Federal Tax Services (FTS) group can help you evaluate your company’s tax position to better capitalize on tax savings and mitigate risks.

Increasing cash flow through effective tax management strategies

Our highly experienced team of former IRS and Treasury officials have a working knowledge of the objectives of tax administrators to help you navigate tax issues you face.


We can help you with:

  • Accounting methods
  • Inventory rules and calculations
  • Long-term contract accounting
  • Long-term contracts
  • Cost capitalization and recovery issues
  • Domestic manufacturing (Section 199)
  • Fixed asset services
  • Settlements and judgments
  • Fringe benefit expenses
  • Timing of income and deductions
  • Intangibles
  • Leasing
  • Mergers & Acquisitions methods issues
  • International methods considerations
  • Estimated taxes
  • Accounting periods

For more information, contact one of our FTS professionals today.


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Annette Smith

Partner and Leader – Federal Tax Services, PwC US

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