Tangible Property Regulations: Accounting Method Change Guidance The Internal Revenue Service and Treasury recently issued final tangible property “repair” regulations and disposition regulations (“Regulations”). These broad Regulations will likely impact most taxpayers in all industries.
Real and Personal Property
Over the last decade, the amount of funds made available by the Federal Government and distributed to the State Government continues to dwindle. As these Federal funds continue to dry up, there is less money made available to the individual states and therefore less available to local towns and cities. This continual trend is forcing towns and cities to come up with alternative ways to obtain those funds that the state used to provide in order to pay for the local public services.