Tax Treatment of Expenditures Related to Tangible Property Resources 

    What's New?

    On Aug. 14, 2014, the IRS issued the final disposition rules for tangible property (T.D. 9689).  The final regulations largely adopted the proposed regulations that were issued in 2013.  The IRS also issued the procedural guidance on September 18, 2014 (Rev. Proc. 2014-54).  Taxpayers must follow the procedures provided in this Rev. Proc. to implement and comply with the new regulations.

    Please click here for history and background information on the tangible property regulations.

    Regulations and Revenue Procedures
    • IRS issued (Rev. Proc. 2014-54) provide procedures for taxpayers to adopt the new disposition regulations, Sep. 18, 2014
    • IRS issued final regulation (T.D.9689) regarding dispositions of depreciable property, Aug. 14, 2014
    • IRS issued second part of guidance on accounting method change (Rev. 2014-17) which superceded Rev. Proc. 2012-20, Feb. 28, 2014
    • IRS issued (Rev.  Proc. 2014-16) to provide procedures for taxpayers to adopt the final "repair" regulations, Jan. 24, 2014
    • IRS issued proposed regulations (REG-110732-13) under section 168 regarding dispositions of tangible depreciable properties, Sep. 13, 2013
    • IRS finalized "repair" regulations (T.D. 9636) under sections 162 and 263, Sep. 13, 2013

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