News & Analysis as of

Bonus Depreciation

March Madness: New Private Letter Rulings Address Tax Accounting Issues

In the last few weeks, the Internal Revenue Service (the Service) issued several private letter rulings addressing a variety of tax accounting issues. From bonus depreciation elections to the correct unit of property for...more

February 2017: Client Alert

by Moskowitz LLP on

Tax Calendar - February 28 - Payers must file informational returns with the IRS. (Except certain Forms 1099-MISC with non-employee compensation payments in box 7, which are due before February 1. Excluding...more

Tax Equity Structuring, Financial Modeling and HLBV Accounting

Akin Gump partner, David Burton and Alfa Business Advisors director, Vadim Ovchinnikov hosted a seminar on Tax Equity Structuring, Financial Modeling and HLBV Accounting yesterday. The seminar covered a variety of topics...more

The Three Most Important Provisions for S Corporations Under PATH Act

by BakerHostetler on

It has become a tradition that at the end of each year, Congress passes legislation to extend previous legislation. In late 2015, Congress passed Public Law 114-113, which contains the Protecting Americans from Tax Hikes Act...more

Congress Passes Protecting Americans from Tax Hikes (Path) Act of 2015, Making Many Tax Extenders Permanent

by Blank Rome LLP on

Action Item: The recently enacted PATH Act contains key tax provisions for businesses and individuals alike, including permanently expanding Section 179 of the Internal Revenue Code; extending the availability of...more

PATH Act Extends Key Tax Provisions for Businesses and Individuals; Many Extenders Made Permanent

by Williams Mullen on

On December 18, 2015, the President signed into law the Protecting Americans from Tax Hikes Act of 2015, HR 2029, PL 114-113 (the “PATH Act”), which extends or makes permanent over fifty (50) expiring tax provisions relating...more

The PATH Act

On December 18, 2015, President Obama signed into law the Protecting Americans from Tax Hikes Act of 2015 (the PATH Act). - extends or makes permanent a number of temporary tax provisions that had expired or were set to...more

Recent Tax Extenders and Modification Package Signed into Law

by Baker Donelson on

On December 18, 2015, President Obama signed into law the "Protecting Americans from Tax Hikes Act of 2015" (the Act). The Act extends a number of tax provisions that expired on December 31, 2014 and makes some of the...more

Congress Acts on Tax Extenders and Other Tax Breaks

by Pierce Atwood LLP on

Congress recently passed two significant pieces of tax legislation:  (1) the Protecting Americans from Tax Hikes (PATH) Act, which extended or made permanent various expired or expiring tax provisions, and (2) the...more

IRS Issues Guidance on Bonus Depreciation

The IRS issued guidance on Tuesday dealing with first-year bonus depreciation. The Tax Increase Prevention Act of 2014 amended Section 168(k)(2) by extending the one year placed-in-service date for property that...more

Tax Policy Update

by McGuireWoods LLP on

The top estate tax rate under Democratic presidential candidate Bernie Sanders’ proposal to tax the wealthiest Americans and narrow income inequality in the U.S. The proposal splits the estate tax into four brackets...more

CRS Report Takes Negative View on Bonus Depreciation

The Congressional Research Service (CRS) has issued a report analyzing the economic effects of bonus depreciation. CRS has very little to say that is positive about bonus depreciation. CRS views it as neither an effective...more

CRS says Bonus Depreciation Has Little Stimulative Bang for the Buck

The Congressional Research Service published a report on July 15, 2013 on bonus depreciation and expensing allowances. The report is lukewarm at best as to the economic benefits of these tax incentives....more

What's Happening in Business Aviation? May 2013

by Burns & Levinson LLP on

This edition of the Burns & Levinson Business Aviation Report covers new developments in the following areas of business aviation: • Rentals from leasing aircraft may be subject to the new 3.8 percent tax on net...more

The Fiscal Cliff Deal - What does it mean for you and your business?

by Butler Snow LLP on

In the early morning hours of January 1, 2013, the Senate approved the American Taxpayer Relief Act of 2012 (the “Act”) by a vote of 89-8. Less than 24 hours later, the House of Representatives also approved the Act by a vote...more

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