A representative of the American Institute of CPAs told the Internal Revenue Service that the temporary proposed regulations governing the deduction and capitalization of tangible property expenditures are too complex for many taxpayers.

Carol Conjura, who chairs the AICPA’s Tax Methods & Periods Technical Resource Panel, said at an IRS hearing Wednesday that many small businesses would not have the resources to comply with the new regulations. The IRS proposed the long-awaited repair regulations for tangible property last December (see IRS Issues Regulations on Tangible Property Repairs) followed by transitional rules in March (see IRS Issues Transition Rules for Repair Regulations).

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