All tagged Rev. Proc. 2015-20

Forbes magazine [said][1] it best, there was a massive collective sigh of relief yesterday from accountants preparing U.S. tax returns the world over.  For background, the IRS issued final rules effective for tax years beginning on or after Januaray 1, 2014 dictating how taxpayers were allowed to treat purchases of fixed assets (things like computers and furniture or buildings) or materials and supplies.