If the nonexercise of rights under a term interest in tangible property would not have a substantial effect on the valuation of the remainder interest, the interest is valued at the amount for which ...

Tangible personal property – that is, property (other than land or buildings) that you can see or touch – is a special asset class in many estates. A client’s tangibles include their jewelry, clothing ...

Gov. Jim Justice appears at an anti-Amendment 2 event in Mercer County Tuesday afternoon. (Photo courtesy of the WV Governor’s Office) CHARLESTON — Gov. Jim Justice has been traveling around the state ...

The Internal Revenue Service has modified the procedures for obtaining its automatic consent to make certain changes in the methods of accounting for amounts paid to acquire, produce or improve ...

The section 179 deduction allows a small business to take a tax deduction for the entire cost of certain property and equipment in the year it buys that property. That produces a larger, more ...

Late last year, the IRS released a new set of temporary regulations on tangible asset costs that will likely affect most businesses, especially manufacturers and distributors. With permanent ...

Income tax filing season has arrived. Executors and trustees overseeing portfolios of real estate or interests in businesses holding tangible property have a new set of complex and far reaching ...

IMGCAP(1)]The IRS’s recent Audit Techniques Guide for the Tangible Property Regulations can help business taxpayers avoid problems with IRS examiners in interpreting the 2014 regulations on how to ...