[IMGCAP(1)]Now that the October 15 tax deadline has passed, many CPAs are turning their attention to the major changes put in place under the IRS’s new “repair vs. capitalization regulations.”
The new rules are in effect for the 2012 tax year and for some clients, will require as many as 19 different automatic accounting method changes to comply with them. Most clients who own real estate will need on average four to six accounting method changes.
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