The Internal Revenue Service (IRS) has set forth tangible property regulations which provide taxpayers guidance on the deduction and capitalization of expenditures related to tangible property. Even though some of the rules are more stringent than before, there are also some rules that are very advantageous to tax payers. The regulations are effective as of today and apply to virtually all tax payers.
The professionals in our Real Estate and Construction group specialize in IRS tangible repair regulations. These regulations affect all types and sizes of businesses. There are significant tax-saving opportunities in which you may qualify; we will ensure you and your business are made aware of all the possible tax benefits as a result of the regulation while staying compliant with the IRS.