IRS Ruling Considers Three Buildings As One Project

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In the recently issued PLR 201228016, the IRS ruled that the computation of qualified rehabilitation expenditures for purposes of the IRC Section 47 rehabilitation tax credit included all of the net rentable floor space in determining the 50% threshold for tax-exempt use property. IRS Ruling Considers Three Buildings As One Project


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Keiter CPAs is a certified public accounting firm serving the audittax, accounting and consulting needs of businesses and their owners located in Richmond and across Virginia. We focus on serving emerging growth businesses and companies in the financial servicesconstructionreal estatemanufacturingretail & distribution industries and nonprofits. We also provide business valuations and forensic accounting servicesfamily office services, and inbound international services.

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