A taxpayer that elects out of the business interest deduction limits won’t need to file an accounting method change when switching to the MACRS alternative depreciation system (ADS), according to the IRS. During recent informal remarks, the IRS said it plans to allow electing farmers and real estate businesses to make the required switch to […]
The post Electing Out of Interest Deduction Limit and Switching to ADS Is Not an Accounting Method Change appeared first on Tax & Accounting Blog.