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Internal Revenue Service › Repairs

The United States Internal Revenue Service is a bureau of the United States Department of the Treasury. The IRS is charged with collecting revenue and enforcing the Internal Revenue Code.  
Eversheds Sutherland (US) LLP

A wolf in sheep’s clothing? IRS provides long-awaited capitalization guidance for natural gas companies

Eversheds Sutherland (US) LLP on

In recently issued Rev. Proc. 2023-15, the IRS provides a safe harbor method of accounting under which taxpayers may classify costs to repair, maintain, replace, or improve natural gas transmission and distribution property...more

McDermott Will & Emery

Focus on Tax Controversy - Summer 2014

McDermott Will & Emery on

In This Issue: - Waiver of Privilege: Disturbing Trends - New Repair Regulations Affect All Taxpayers - Unclaimed Property – It Is Not a Tax, but It Can Feel Like One - Excerpt from Waiver of...more

Williams Mullen

Revised Rev. Proc. 2014-12 Clarifies New Guidance on Rehabilitation Tax Credits

Williams Mullen on

On January 9, 2014, the Internal Revenue Service (“IRS”) issued a revised version of previously released Rev. Proc. 2014-12, providing a safe harbor for the allocation of IRC Sec. 47 rehabilitation tax credits in tax credit...more

Troutman Pepper

Construction Is Complete On Much Of The Repair Regulations

Troutman Pepper on

On September 13, 2013, the IRS and Treasury Department released final regulations regarding the deduction and capitalization of expenditures related to tangible property. Rules were also released regarding accounting for and...more

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