Guidance on QIP Changes to Depreciation (Rev.Proc. 2020-25)
QIP Depreciation The IRS has issued guidance which allows a taxpayer to change its depreciation
Tag: CARES Act
QIP Depreciation The IRS has issued guidance which allows a taxpayer to change its depreciation
Five-Year NOL Carryback Rule The Service has issued guidance pursuant to Rev. Proc. 2020-24, which
Section 163j Guidance Qualified improvement property (QIP) placed into service after 2017 (i.e., regardless of
Excess Business Loss Limitation Previously, Code §461(l)(1) disallowed the deduction of “excess business losses” by
Tax Savings Under CARES Act On March 27, 2020, the “CARES ACT,” a $2.2 trillion