Berntson Porter Coronavirus Resource Center Details

BP Blogs

LIKE WHAT YOU READ? Share this article :

IRS Suspends Audits on Repair vs. Capitalization Issue

As the final “repair regs” are being drafted, The IRS has put a moratorium on audits relating to several of the issues being addressed in the new regulations.  For years beginning before Jan. 1, 2012, IRS agents have been instructed to not examine the issue of:

  • Whether repair costs incurred to maintain, replace or improve tangible property must be capitalized under Sec. 263(a); and
  • Related issues involving the disposal of structural components of a building or dispositions of tangible property.

Final regulations are expected in June or July of this year.


New Name, Same People and Service You’ve Known for Years.

Berntson Porter is excited to announce that we are now part of CBIZ & MHM (Mayer Hoffman McCann P.C.). Together, CBIZ & MHM are one of the nation’s Top Ten accounting providers, and Berntson Porter is honored to be joining them. We are pleased to be able to offer the same people and the same service you’ve known for years under a new name: CBIZ Berntson Porter. Please click here for more information.