Tuesday, January 15, 2013

RP-2013-13: Examination of returns and claims for refund, credit, or abatement; determination of correct tax liability

Revenue Procedure 2013-13 provides an optional safe harbor method that individual taxpayers may use to determine the amount of deductible expenses attributable to certain business use of a residence during the taxable year.  This safe harbor method is an alternative to the calculation, allocation, and substantiation of actual expenses for purposes of satisfying the requirements of § 280A of the Internal Revenue Code.  This revenue procedure is effective for taxable years beginning on or after January 1, 2013.

Revenue Procedure 2013-13 will be in Internal Revenue Bulletin 2013-6, dated Feb. 4, 2013.

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