Collateral Issues to Consider in Tangible Property Regulations Accounting Method Changes

Collateral Issues to Consider

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The tangible property regulations ("the repair regulations") provide rules for distinguishing deductible repair costs from capital improvements that must be recovered through depreciation. The final repair regulations are generally effective for tax years beginning after December 31, 2013, although taxpayers may opt to apply the rules for tax years that began after December 31, 2011 if the deadline for filing an election or accounting method change has not passed. 

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