IRS provides 1 year extension to claim missed repair deductions on 2015 returns

06/03/2016

The recently released Rev. Proc. 2016-29 details new procedures for automatic accounting method changes, as discussed in a previous KBKG Tax Insight, and effectively provides a one year extension for taxpayers to implement many portions of the Tangible Property Regulations (TPR).Taxpayers are generally not permitted to make an automatic method change if they made a … Read More