[IMGCAP(1)]The IRS’s recent Audit Techniques Guide for the Tangible Property Regulations can help business taxpayers avoid problems with IRS examiners in interpreting the 2014 regulations on how to treat expenses incurred for materials, supplies, repairs and maintenance.

Most taxpayers have finalized implementation of the Tangible Property Regulations over a year ago. These regulations covered how to determine when an expenditure is capital versus when an expenditure can be treated as an expense. In most situations, the implementation of these regulations is considered to be taxpayer favorable. Most taxpayers who correctly implement these regulations will find that more items can be expensed as compared to the old rules.

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