Congress Urged To Extend Bonus Depreciation

Law360, New York (January 13, 2014, 4:32 PM EST) -- The U.S. telecommunications and cable industries on Monday urged Congress to renew a recently expired bonus depreciation rule that provided significant tax breaks to companies investing in their domestic business, saying it could hinder American job growth.

The provision, which was part of Congress's fiscal cliff deal in 2012, extended for one year a depreciation rule that allows companies to expense 50 percent of the cost of qualified property placed in service in 2013. The depreciation rule was one of dozens of tax provisions that expired...
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