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- Title
IRS issues regulations on repair and capitalization rules.
- Authors
Dennis-Escoffier, Shirley
- Abstract
The article discusses the regulations of the U.S. Internal Revenue Service (IRS) for the capitalization and repair of buildings and some fixed assets. It states that the new rules are applicable to all businesses which produce, purchase, or repair tangible property. It adds that under the regulations, betterments, permament improvements, and restorations of properties should be capitalized.
- Subjects
UNITED States; BUILDING repair -- Finance; REAL property &; taxation; PROPERTY tax; REAL property sales &; prices; UNITED States. Internal Revenue Service
- Publication
Journal of Corporate Accounting & Finance (Wiley), 2012, Vol 23, Issue 5, p81
- ISSN
1044-8136
- Publication type
Article
- DOI
10.1002/jcaf.21789