Article Date:
February 2007


Word Count:
496

 

 

IRS Issues New Rules for Fixing Depreciation


Revenue procedure 2007-16 allows you to make a change in depreciation after you sell, trade, or abandon property. The new procedures make some prior procedures obsolete and make revisions easier.1

 

In addition to allowing you to make depreciation changes after the disposition of an asset, this new revenue procedure contains a host of other benefits, including these:

 

·

automatic acceptance of the change by the IRS (no advance permission is necessary)

·

no fee for filing IRS Form 3115

·

no section 481 adjustments to previously ... Log in to view full article.

Log in to view full article
Already a subscriber?
 
Email Address

 
Password

Log In Send me my password

You'll be able to read the full article and get instant access to the last few issues of the Tax Reduction Letter

Not yet a subscriber?
 
with a money-back guarantee