After nearly a decade in the making, the final tangible property regulations have arrived. These regulations will affect every taxpayer that uses tangible property in its business. The rules are ...

On March 13, 2018, the Large Business and International (LB&I) Division of the Internal Revenue Service (IRS) announced five new compliance campaigns. The new campaigns continue the IRS’s move to ...

Tangible assets are one of two types of assets a business may own. These assets contribute significantly to the value a company has at any given point. Therefore, companies take great care to track ...

Gov. Jim Justice appears at an anti-Amendment 2 event in Mercer County Tuesday afternoon. (Photo courtesy of the WV Governor’s Office) CHARLESTON — Gov. Jim Justice has been traveling around the state ...

While a claim of conversion has grown to extend beyond tangible property to keep up with computerized use, courts are still grappling with how far to extend the tort. In their Commercial Division ...

When planning their estates, most people focus on major assets, such as business interests, real estate, investments and retirement plans. But it’s also important to “sweat the small stuff” — tangible ...

The IRS announced on Tuesday that it will raise the deductible amount for purchases of tangible property by taxpayers without applicable financial statements (AFSs) to $2,500 per item, an increase ...

IMGCAP(1)]The IRS issued the final tangible property repair regulations for Sections 162(a) and 263(a) last Friday, modifying and superseding the temporary regulations that were issued on Dec. 23, ...

Income tax filing season has arrived. Executors and trustees overseeing portfolios of real estate or interests in businesses holding tangible property have a new set of complex and far reaching ...

The tangible property regulations, also known as the “repair regulations,” were finalized in September 2013 and are effective for tax years beginning on or after Jan. 1, 2014. They are the Internal ...