Final and Proposed Regulations on New 100 Percent Depreciation

On September 13, the Treasury Department and the IRS released final regulations and additional proposed regulations under IRC § 168(k) on the new 100 percent additional first year depreciation deduction. The final regulations finalize the August 2018 proposed regulations implementing several TCJA provisions allowing businesses to write off most depreciable business assets in the year they are placed in service. The proposed regulations contain new provisions not addressed previously. Click here for details.