IRS Now Allows Taxpayers to Revoke or Make Late Bonus Depreciation Elections by Angie Adames, CPA
Posted on August 15, 2019 by Angie Adames
The IRS has issued new regulations permitting taxpayers to change the bonus depreciation treatment of certain property acquired after Sept. 27, 2017, and placed in service during a tax year that includes Sept. 28, 2017. The Tax Cuts and Jobs Act (TCJA) that went into effect on Jan. 1, 2018, made several changes to bonus depreciation, such […]