Tuesday, March 29, 2011


Revenue Procedure 2011-26 provides guidance on the new 100 percent bonus depreciation from the Tax Relief, Unemployment Insurance Reauthorization, and Job Creation Act of 2010. Specifically it explains the eligibility requirements for qualified property to be eligible for the 100 percent additional first year depreciation deduction. Also, Revenue Procedure 2011-26 provides the method for a taxpayer who already timely filed the 2009 tax return to amend it to include qualified property.

Revenue Procedure will be IRB 2011-16, dated April 18, 2011.

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