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New CCH Tax Briefing Examines Recently Revised IRS Tangible Property Regulations

(RIVERWOODS, ILL., September 20, 2013) – New guidance for individuals and businesses from the IRS on compliance rules and regulations for acquiring, maintaining, repairing and replacing tangible property (T.D. 9636) is providing important answers – while still raising some questions. Expert insight and analysis is now available in a new CCH Tax Briefing: IRS Releases Comprehensive Repair/Capitalization Final Regulations – A user-friendly guide to recently updated rules for reporting tangible property capitalization and tax deductions. CCH, part of Wolters Kluwer is a leading global provider of tax, accounting and audit information, software and services (

These much-anticipated regulations provide many taxpayer-friendly changes to the 2011 temporary measures and have an effective date of January 1, 2014. Certain retroactive elections are also available. For all taxpayers, the regulations spell out key differences between expensing and capitalizing, which can mean the difference between an immediate tax deduction at full value versus a deduction that is spread out over 5, 10, 15 and 20 years or more.

“Although they’re designed to be a simplified version of the current rules and generally more favorable to taxpayers, it may be a challenge to comb through more than 200 pages of these new regulations to ensure full compliance by deadline,” said CCH Senior Federal Tax Analyst, George Jones, JD, LLM. “The retail, manufacturing and hospitality industries may be especially impacted because every business that has some fixed assets, so really the vast majority, must be in compliance when the new regulations go into effect.”

For More Information

Full details on the new tangible property regulations are available by visiting: Tax Briefing: IRS Releases Comprehensive Repair/Capitalization Final Regulations.

A full range of recent CCH Tax Briefings covering significant developments is also available by visiting

Members of the press interested in speaking to a CCH tax analyst should contact Eric Scott at 847-267-2179,  

About CCH, a part of Wolters Kluwer

CCH, a part of Wolters Kluwer ( is a leading global provider of tax, accounting and audit information, software and services. It has served tax, accounting and business professionals since 1913. Among its market-leading solutions are The ProSystem fx® Suite, CCH Axcess™, CCH® IntelliConnect®, Accounting Research Manager® and the U.S. Master Tax Guide®. CCH is based in Riverwoods, Ill. Follow us now on Twitter @CCHMediaHelp. Wolters Kluwer ( is a market-leading global information services company. Wolters Kluwer is headquartered in Alphen aan den Rijn, the Netherlands. Its shares are quoted on Euronext Amsterdam (WKL) and are included in the AEX and Euronext 100 indices.

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