IRS' Tangible Property Regulations - How to Operate and Thrive With the Extremely Useful New Set of Tools

IRS recently finally finalized its notorious tangible property regulations (and implementing Rev Procs). Hundreds of pages in length, the new regs soon leave any rational reader with an experience like that of drowning in quicksand. This course delivers a clear thinking process to sort through, divide and conquer it all. Course materials contain a "forest for the trees" 3 page overview "Cheat Sheet" (which past participants have dubbed "worth the price of admission"). This foundational course puts the participant in practical command of IRS' newly minted rules and related opportunities and helps to avoid pitfalls.

**This course is approved by the IRS. The submission of a completed request form, found under the materials tab, is required for credit. Please send completed form to leighanne.conroy@acpen.com.


*To gain a working knowledge of IRS' new acquisition costs, capitalize vs. repair and MACRS disposition final regulations

*Recognize related planning opportunities, traps and compliance obligations

*To enable the participant to capture handsome current deductions under a variety of circumstances, including, but not limited to, the partial disposition of MACRS assets

*To empower the participant to be able to responsibly, properly approach whether to capitalize or expense any expenditure


*Changes to a taxpayer’s chart of accounts to comply with and thrive under the new regs now advisable

*Which annual elections (as opposed to 3115s) must now be made

*Are the 3 new repair expense safe harbors really as deep and wide as the Grand Canyon?

*Capturing the current deduction now available for partial dispositions of property

*What is the new so-called de minimus safe harbor? Should every taxpayer make the annual election for this -or- is it not worth the paper it’s written on?

*Which items are properly categorized as “materials and supplies” and which are not?

*Why it may not (or may) matter all that much whether you filed Form 3115 for 2014.

*Under what circumstances 3115s must be filed from here.

*How to know whether an expenditure is properly currently deducted as a repair expense or, rather, capitalized and subsequently cost recovered

*You can drive trucks through the opportunities drafted by IRS (new safe harbors and elections) if you know what you’re doing

Additional Information

Designed For

Accountants, property owners, lessors, lessees of business property and other interested persons desiring to gain a practical working knowledge of IRS' new tangible property regulations, including the acquisition, capitalize vs. repair and partial disposition rules



Advanced Preparation




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