Seminar ID: 109789

Impact of Final Regulations & Proposed Regulations for Additional First Year Depreciation Deduction

Impact of Final Regulations & Proposed Regulations for Additional First Year Depreciation Deduction

These regulations provided taxpayers with some clarity but questions remain.

The IRS and Treasury Department issued the final regulations specifying guidance in regard to additional first year bonus depreciation deductions under section 168(k) of the Internal Revenue Code. As much as these regulations, issued in September 2019, cleared up some questions and provided clarity; some concerns remain. This white paper reviews some of those concerns and discusses some of the topics that the regulations provided clarity on and how taxpayers may apply the regulations.