, and software in the year it was purchased, as opposed to depreciating it a little at a time over several years. This deduction is particularly impactful for small businesses, as it can help markedly reduce tax liability and improve cash flow. For more information, seeIRS Publication 946....
you may have to rely on depreciation to receive a tax benefit from that transaction. Land and land improvements, such as “swimming pools, paved parking areas, wharves, docks, bridges, and fences,” also aren't eligible, according to the IRS. ...
Internal Revenue Service (IRS) has issued Revenue Ruling 2008-13 on February 21, 2008 to provide guidance on the application of Internal Revenue Code Section 162(m) in response to the disorder caused when the IRS issued Private Letter Ruling (PLR) 200804004. A McDermott On the Subject, which...
IRS Temporarily Liberalizes Section 956 in an Effort to Facilitate Corporate LiquidityThe article reports on the issuance of Notice 2008-91, by the U.S. Internal Revenue Service which temporarily liberalizes section 956 of the Internal Revenue Code, thereby making it easier for U.S. companies ...
Wendy RichardsMike B. Wittenwyler
CSM Section 4 Setting up site (incorporating Dec 04 and Dec 05 amendments)
JonesDay
IRS Issues Document Corrections Program for Deferred Compensation Plans Under Code Section 409A, Practical U.S./Domestic Tax Strategies, Vol. 9, No. 12, pp. 7–11Leslie E. DuPuyDaniel L. HogansMims Maynard Zabriskie
Jeffrey C. WagnerDaniel N. Zucker
IRS Issues Initial Guidance and Limited Transition Relief for Nonqualified Deferred Compensation Plans Subject to New Section 457AJoseph S. AdamsAndrew C. LiazosStephen Pavlick , PCDavid E. Rogers