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Proposed Regulations on Dispositions Under the Modified Accelerated Cost Recovery System

Although the IRS released final regulations that refine and simplify the rules for determining whether an expense may be deducted as a repair or must be capitalized, the Service chose not to finalize the regulations governing general asset accounts (GAAs) and the disposition of depreciable property under the Modified Accelerated Cost Recovery System (MACRS). Instead, proposed regulations were issued that make significant changes within this highly-controversial area.


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