IRS Bonus Depreciation Regs Clarify Treatment Of Biz Groups
Law360 (September 13, 2019, 12:58 PM EDT) -- The Internal Revenue Service proposed new rules Friday on the 100% first-year expensing deduction provided by the 2017 federal tax reform law to, in part, answer questions on how the provision applies to property acquired by consolidated business groups.
The IRS' proposed rules on the bonus depreciation provision of the 2017 tax overhaul address the treatment of used property acquired by consolidated groups and sales of property between members of a group. (AP) The proposed rules on the Tax Cuts and Jobs Act's bonus depreciation provision address the treatment of used property acquired by consolidated groups and sales of property between...
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