IRS Provides Initial Guidance on Depreciation Deductions for Qualified Production Property By Joseph C. Leuchter, CPA
Posted on May 19, 2026 by Joseph Leuchter
The IRS recently issued interim guidance on a provision in the One Big Beautiful Tax Act (OBBBA) that enables taxpayers to claim a temporary first-year 100 percent deduction for the cost of constructing certain factories, manufacturing plants and refinery structures in the U.S. or a U.S. territory. Generally, the provision applies to a new class […]