Baucus Aims To Pare Depreciation Rules In Tax Plan

Law360, New York (November 21, 2013, 6:31 PM EST) -- The latest tax reform proposals unveiled Thursday by Senate Finance Committee Chairman Max Baucus take aim at the current cost recovery and tax accounting system by eliminating a glut of depreciation rules that have added layers of complexity to the tax code.

The Montana Democrat has unveiled a series of drafts this week aimed at rewriting the U.S. tax laws. Baucus' latest package of proposed fixes would result in a single set of depreciation rules that “apply to all business taxpayers,” he said.

Baucus' plan would...
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