IRS provides MACRS class lives, depreciation tables

Article Abstract:

The IRS has issued a new list of class lives of assets used in business and manufacturing. Depreciation rate tables and the applicable periods under the modified accelerated cost recovery system (MACRS) have also been issued. Asset class lives determine the MACRS recovery period. Certain types of property have been assigned recovery periods without regard to class life. An alternative depreciation system has been created which is mandatory for certain types property such as property financed by tax-exempt bonds and property used primarily outside the US. Examples of depreciation under the new procedures are provided.

Accounting and auditing, Accelerated depreciation

---

Allocation requirements detailed in Temp. Regs

Article Abstract:

The IRS has issued Temporary Regulations regarding asset-allocation provisions of the Tax Reform Act of 1986. The asset transfers affected by the rule are those which constitute a trade or business in which the transferee's basis is determined by the price paid. The allocation of assets under the residual method, reporting requirements, and special rules regarding partnerships are discussed.

Allocation (Taxation), Tax allocation

---

Similar abstracts:

• Abstracts: Rules for getting consent to change methods eased. Changes in individual retirement account rules made by TRA '86 amplified by IRS
• Abstracts: Can we all agree? Management control
• Abstracts: Where have all the accountants gone? What do academics do all day? Corporate social reporting: the way forward
• Abstracts: Strategic assets and organizational rent. Diversification strategies, business cycles and economic performance
• Abstracts: Monitoring collection agency performance. Speed collections by 'liening' on debtors. Making credit collections cost effective

This website is not affiliated with document authors or copyright owners. This page is provided for informational purposes only. Unintentional errors are possible.