After nine years and significant back and forth, the IRS released the final Tangible Property Regulations, commonly known as the “repair regulations,” on September 13, 2013. All taxpayers with depreciable property are required to comply with these new regulations no later than the due date of their 2014 tax returns.
These far-reaching regulations affect more than just repairs and generally impact everyone who has depreciable assets. Get answers to the most frequently asked questions regarding these new regulations.
Length: 5 pages (PDF 1652 kB)