As a follow up to our four part series on the New Capitalization Rules, we thought you might find the American Institute of CPA’s (AICPA) response and input on the new temporary and proposed regulations issued in December 2011 interesting. The AICPA has criticized the Internal Revenue Service stating that the proposed regulations for capitalization and deduction of tangible property expenditures are unnecessarily complex and burdensome. AICPA Response to Temporary Proposed 2012 Regulations
To read the four articles in our New Capitalization Rules series, follow the links below.
Article 1: Capitalization Rules – Building Systems
Article 2: Capitalization Rules-Acquisition of Real Property
Article 3: Capitalization Rules – Repairs to Personal Property
Article 4: Capitalization Rules-Rotable Spare Parts
The information contained within this article is provided for informational purposes only and is current as of the date published. Online readers are advised not to act upon this information without seeking the service of a professional accountant, as this article is not a substitute for obtaining accounting, tax, or financial advice from a professional accountant.