IRS Issues Final ‘Expense vs. Capitalization’ Regs

The Internal Revenue Service has issued final regulations (T.D.9636) on deduction and capitalization of expenditures related to tangible property. The final regulations include rules for determining whether costs related to tangible property are deductible repairs or capital improvements.  Changes made: The final regulations adopt the temporary regulations issued in 2011 (T.D. 9564), with a number [...]