Infocast on Do You Know What to Deduct and What to Capitalize? 


    The AICPA is holding an audio and slide infocast on Monday, April 23, 2012 from 2:00 to 3:30 p.m. Eastern on Do You Know What to Deduct and What to Capitalize?  Understanding the New Temporary Regulations for Tangible Property.  This event will be rebroadcast on Tuesday, May 8, 2012 from 2:00 to 3:30 p.m. Eastern.

    The IRS released tangible asset regulations at the end of 2011 and transitional guidance in 2012 that, starting this year, will have a tremendous impact on many taxpayers.  The guidance addresses repair versus capital improvement treatment for tangible assets, as well as provides a new definition for materials and supplies and a de minimis capitalization threshold for acquisitions.  Our panelists and special guests from the IRS will cover what you need to know and the next steps to take.  Discussion topics will include:

    • what types of taxpayers are affected;
    • the new de minimis rule;
    • determining whether an expenditure is a repair or a capitalizable improvement;
    • understanding the disposition and general asset accounting provisions;
    • method change rules to comply with the temporary regulations; and,
    • impact of IRS directive to those taxpayers with repairs issues under examination.  

    Panelists:

    Jane Rohrs
    Director, Washington National Tax group, specializing in Federal tax accounting methods
    Deloitte Tax LLP
    and Co-Chair, AICPA Repair Regulations Task Force

    Natalie Tucker
    Director, Washington National Tax Accounting Methods & Periods group
    McGladrey & Pullen LLP
    and Member, AICPA Tax Methods and Periods Technical Resource Panel, and Co-Chair, AICPA Repair Regulations Task Force

    Special Guests:

    Merrill Feldstein
    Senior Counsel
    Income Tax and Accounting, Branch 3
    Internal Revenue Service

    Kathleen Reed
    Branch Chief
    Income Tax and Accounting, Branch 7
    Internal Revenue Service

    Moderator:

    Michelle R. Koroghlanian
    AICPA

    Registration Details:

    The April 23, 2012 infocast is available for AICPA members for $75.00, and available to the public for $93.75 for 1.5 CPE credits.  Separate registration for Tax Section members.

    Rebroadcast:

    This event will be rebroadcast on Tuesday, May 8, 2012 from 2:00 to 3:30 p.m. Eastern.  The rebroadcast will qualify for 1.5 CPE credits, and is available for AICPA members for $75.00, and available to the public for $93.75. 









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