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Treasury Adopts Many Taxpayer Suggestions in Re-Proposing Tangibles Regulations |
April 11, 2008
Previously published on March 11, 2008
Treasury and the IRS have re-proposed
regulations governing the application of
section 263(a) to costs incurred to acquire,
produce, or improve real or personal
tangible property (the so-called "tangibles
regulations"). Public comments raised a
variety of concerns regarding the original
version of the proposed regulations issued
in 2006. In response, the government has
withdrawn the 2006 proposed regulations,
and re-proposed the tangibles regulations
in whole.
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The views expressed in this article are solely the views of the author and not Martindale-Hubbell. This article is intended for informational purposes only and is not legal advice or a substitute for consultation with a licensed legal professional in a particular case or circumstance. |
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