Final IRS Repair Regulations: What You Need to Know Now
Tax Planning and Compliance After Substantial Changes to 263(a) Cost Capitalization Rules
Final 263(a) repair regs issued Sept. 13, 2013
Recording of a 110-minute CPE webinar with Q&A
This webinar will provide corporate tax professionals and advisors with an in-depth analysis of the newly issued repair regulations and outline best practices for corporate compliance and planning opportunities.
Final regulations issued September 2013
- Clarify and expand current standards under sections 263(a) and 162(a)
- Provide rules for applying these standards
Address handling of:
- Materials and supplies
- Rentals and leased property
- Amounts paid to acquire or produce tangible property
- Amounts to improve property
- Accounting and disposition rules for MACRS property
- Changes from 2011 proposal
- Critical compliance challenges and tax planning structures related to the new repair regulations
The panel will clarify what has and has not changed from the proposed regulations to the final regulations and discuss:
- What are the key challenges and issues companies face in implementing these regulations?
- When is an accounting method change required under the finalized regulations?
- What are the safe harbors created by the new regs?
- Will the final regulations be applied to taxable years beginning on or after Jan. 1, 2012?
Following the speaker presentations, you'll have an opportunity to get answers to your specific questions during the interactive Q&A.
Tax Senior Manager
Mr. Wood has over 13 years of public and private sector experience, and has focused his practice on tax accounting,... | Read More
Mr. Wood has over 13 years of public and private sector experience, and has focused his practice on tax accounting, including accounting methods, issues involving timing, fixed assets and recognition events. Before joining Eide Bailly, Mr. Wood developed his expertise at the Office of Chief Counsel, Income Tax Accounting Division at the Internal Revenue Service and at Deloitte’s National Tax Office.Close
Leslie J. Schneider
Ivins Phillips & Barker
Mr. Schneider's practice concentrates in accounting methods, the timing of revenue and expenses, the... | Read More
Mr. Schneider's practice concentrates in accounting methods, the timing of revenue and expenses, the valuation of inventories, and capital v. expense issues. He is most often recognized for his three-volume treatise, Federal Income Taxation of Inventories, published by Matthew-Bender.Close
Mr. Strong has more than 19 years of public accounting and private sector experience. He is part of the firm's... | Read More
Mr. Strong has more than 19 years of public accounting and private sector experience. He is part of the firm's National Tax Office and monitors federal legislative and regulatory changes, and also works with its Federal Solutions Practice group on inventory and accounting method issues.Close