Federal Tax Alert - September 2016

Repair v. Capitalization and Depreciation Changes Will Affect 2016 Business Returns

The following briefing covers recent developments relating to repair, capitalization, and depreciation as embodied in the final "tangible property regulations," also known as the "repair regulations." In addition, significant changes to depreciation provisions, such as bonus depreciation and the Section 179 allowance, were made by the Protecting American from Tax Hikes Act of 2015 (PATH Act) (P.L. 114-113).