Rev. Proc. 2016-29 and the Final Tangible Property Regulations

Just when we begin to assimilate the accounting method changes to the tangible property regulations, along comes Rev. Proc. 2016-29 which modifies and expands Rev. Proc. 2015-13 and Rev. Proc. 2015-56. However, there’s no need for panic. The changes in Rev. Proc. 2016-29 are mostly clarifications.

Source:: AICPA – Tax