Tangible Property Disposition Rules, Revenue Procedure Expected Soon

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Final rules related to dispositions of tangible property under tax code Section 168 should be out in the next one or two months and a corresponding final revenue procedure should follow shortly after, a Treasury Department official said.
“The final regulations are very far along—I'd say late June, maybe, is pretty realistic at this point,” Scott Mackay, a taxation specialist in Treasury's Office of Tax Policy, said May 30 at a New York University Federal Real Estate Tax Conference.
The Internal Revenue Service reproposed rules (REG-110732-13) in September 2013 with what practitioners said was favorable treatment of taxpayers disposing of property, allowing taxpayers to take a disposition of a structural component as an election made in the year of disposition (179 DTR GG-1, 9/16/13).

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