U.S. IRS Publishes Proposed Regulations on Additional First Year Depreciation Deduction Under Section 168

On 3 August 2018, the U.S. IRS published the proposed regulations on the additional first year depreciation deduction under Section 168, which was introduced as part of the Tax Cuts and Jobs Act.

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WASHINGTON — The Treasury Department and the Internal Revenue Service today issued proposed regulations on the new 100-percent depreciation deduction that allows businesses to write off most depreciable business assets in the year they are placed in service.

The proposed regulations, availab…