Sign Up For Novogradac Industry Alert Emails

IRS RELEASES GUIDANCE ON BONUS DEPRECIATION

Tuesday, March 29, 2011 - 7:00AM

The Internal Revenue Service (IRS) today released guidance on the 100 percent bonus depreciation from the Tax Relief, Unemployment Insurance Reauthorization and Job Creation Act of 2010. In Revenue Procedure 2011-26 the IRS explains the eligibility requirements for qualified property to be eligible for the 100 percent additional first year depreciation deduction and provides the method for amending a 2009 tax return to include the qualified property. Rev. Proc. 2011-26 will be published in IRB-16, dated April 18, 2011.

Learn more about Novogradac's expertise and many services