The IRS announced on Tuesday that it will raise the deductible amount for purchases of tangible property by taxpayers without applicable financial statements (AFSs) to $2,500 per item, an increase ...

Tangible personal property – that is, property (other than land or buildings) that you can see or touch – is a special asset class in many estates. A client’s tangibles include their jewelry, clothing ...

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 ...

The IRS issued the Tangible Property Regulations (TPR) in 2013 and many taxpayers overlooked or didn’t pay much attention to them. Now businesses are catching up, realizing TPR offers significant ...

In late 2013 the IRS published T.D. 9636, which contained final regulations under Secs. 162(a) and 263(a) that provide the rules regarding when costs incurred to acquire, produce, or improve tangible ...

(WJAR) — Governor McKee will sign legislation that limits the taxes businesses in Rhode Island pay. The legislation exempts the first $50,000 of tangible property from the personal property tax for ...

The Tax Cuts and Jobs Act of 2017, which went into effect Jan. 1, 2018, is the most comprehensive federal tax changes in a generation. The Act will have a major impact on estate tax planning going ...

Tangible assets are the assets on a company's balance sheet that have a physical form. This includes machinery, office equipment and property, as well as materials that are used in production. Current ...

LINCOLN, R.I. (WPRI) — R.I. Senate leadership is backing legislation this year to create a statewide tangible property tax exemption of $100,000, which analysts estimate would eliminate the unpopular ...

While a claim of conversion has grown to extend beyond tangible property to keep up with computerized use, courts are still grappling with how far to extend the tort. In their Commercial Division ...