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...
To view the full article, register now.

UK Financial Services

UK Financial Services

Read Our Latest UK Financial Services Coverage

Financial Services Law360 UK provides breaking news and analysis on the financial sector. Coverage includes UK and European Union policy, enforcement, and litigation involving banks, asset management firms, and other financial services organizations.