Federal Tax Alert - March 2014
On February 28, 2014, the Internal Revenue Service released Revenue Procedure 2014-17, which will appear in the Internal Revenue Bulletin dated March 17, 2014, and supersedes Rev. Proc. 2012-20. Rev. Proc. 2014-17 provides procedures for taxpayers to obtain automatic consent to change certain methods of accounting for dispositions of tangible depreciable property.