IRC 263(a): New Finalized Repair Regulations for Return Preparers

Applying Revisions to Accurately Capitalize Costs Under the New Rules

Recording of a 110-minute CPE webinar with Q&A

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Conducted on Wednesday, November 20, 2013

Recorded event now available

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Course Materials

This course will provide federal return preparers with an in-depth analysis of the final repair regulations and outline best practices for accurately filing returns according to Section 263(a) capitalization rules.


After years of amendments and proposed changes, the IRS released final "repair regulations" under Sect. 263(a) and 162(a) in Sept. 2013. These regs significantly change the tax rules for capitalizing costs tied to tangible assets. Any taxpayer that acquires, produces or improves property is affected.

At over 200 pages, the new repair regulations include major changes such as a revised de minimus rule that replaces the ceiling rule with a safe harbor, an extension of the routine maintenance safe harbor to buildings, and a clarified definition of restorations and betterments to tangible property.

Tax return preparers must familiarize themselves with the material details of the updates to Sect. 263(a), 162(a) and 168 under the latest repair regulations release (TD 9636). The regs are effective Jan. 1, 2014, which leaves little time to review the extensive changes.

Listen as our panel of experienced advisors cuts through the extensive and complex regs to bring you the bottom line of how future year tax returns will be effected by the revised repair regulations.



  1. September 2013 final repair regulations
  2. Comparison to 2011 version of the rules
  3. Following the standards under 263a and 162a
  4. Applying the rules to different categories of property
  5. Examples of how rules will affect annual filings


The panel will give you the tools you need to understand:

  • Material details of the updates to Sect. 263(a), 162(a) and 168 in the latest IRS release.
  • The important differences in the new regs compared to the 2011 version.
  • Specific changes that have a direct impact on how tax preparers complete federal returns.
  • How to meet the key challenges in applying these regulations to return completion.

Following the speaker presentations, you'll have an opportunity to get answers to your specific questions during the interactive Q&A.


Rich Shevak
Rich Shevak
Senior Manager, Accounting Methods
Grant Thornton

He is attached to the firm's National Tax Office and provides technical support to clients and firm professionals on a...  |  Read More

Ellen McElroy
Ellen McElroy

Pepper Hamilton

Ms. McElroy works on a broad variety of taxpayer issues involving both accounting methods and inventories. She has...  |  Read More

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