IRS releases long-awaited final tangible property ‘repair’ regulations

September 2013


The IRS released final tangible property 'repair' regulations under Sections 162(a) and 263(a), regarding the deduction and capitalization of expenditures related to tangible property.  The final regulations replace temporary regulations that were issued in December 2011.  Also released today were proposed regulations under Section 168 regarding dispositions of tangible depreciable property. Collectively, these regulations will affect every taxpayer that acquires, produces, improves, or disposes of tangible property, especially those that previously filed a related accounting method change.

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