It’s seldom that the IRS retreats and reinstates old rules and regulations that actually save taxpayers money. But that’s exactly what has happened.
Thanks to a “re-think” by the IRS, you’ll no longer have to wade through 256 pages of regulations to determine whether your fix-up is a “repair” or an “improvement.”
That’s right. The onerous rules that went into effect on January 1, 2012 have been pulled back and you can now take advantage of the old easier rules, at least until 2014.
You’ll get the whole money-saving story when you read my new article titled Tax Tips: IRS Retreats on Repair Regulations.
Three ways our fact-filled article can help you:
- We’ll explain the new rule changes in easy-to-understand language. Don’t wade through countless IRS documents trying to figure out what the new rules and regulations mean to you. We’ve already done all the hard work and will tell you what the bottom line is when you read the full article.
- We’ll tell you which IRS option to choose. In a newly issued notice, the IRS gives you a choice between two sets of regulations you can follow. One will save you money. One will lose you money. We’ll tell you which is the winner when you read the full article.
- We’ll list three great ways the new rules can help you. The IRS said that its final repair regulations may simplify things in three important ways. We’ll tell you what they are when you read the full article.