Federal Tax Regs to Watch in 2020
1.1.2020
Law360 referenced NYSBA’s comments on Section 168(k), which provides a 100% deduction for the cost of depreciable business assets that have a recovery period of 20 years or less for the first year the property is placed in service. (may require subscription)
Morgan Lewis partner Alexander Reid spoke with Law360 about some key federal tax regulations lawyers should monitor in 2020. In the article, Alex discussed regulations regarding unrelated business taxable income. “What hangs in the balance is whether or not a nonprofit’s investment activity should be treated as a trade or business requiring separate computation,” Alex said. “It would greatly simplify application of the new statute to exclude such income.”
Copy Direct Link
Source
Copy Link
