Treasury and IRS Release Final Regulations on Full Expensing under Section 168(k)
On September 21, the Department of the Treasury and the Internal Revenue Service released final regulations under section 168(k). Amended by the Tax Cuts and Jobs Act, section 168(k) generally allows full expensing of certain depreciable property. The final regulations generally finalize proposed regulations released in 2019 that address the requirements to qualify for the additional depreciation deduction.
Read More: Final Regulations
Read More: 2019 Proposed Regulations