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June 10, 2022

IRS updates Cost Segregation Audit Technique Guide to reflect law changes, including under TCJA and CARES Act

The IRS updated its Cost Segregation Audit Technique Guide as of June 1, 2022. The introduction to the Guide explains the updates were necessary due to changes in the law, including the Tax Cuts and Jobs Act of 2017 (TCJA) and the Coronavirus Aid, Relief, and Economic Security (CARES) Act. Topics updated pertain to IRC Section 263A; accounting method changes; depreciation and bonus depreciation; deductions under IRC Sections 179 and 179D; and qualified improvement property.