42°F
weather icon Clear

Proposed regulations contain new provisions

The U.S. Treasury Department and the Internal Revenue Service recently released final regulations and additional proposed regulations under a section of the Internal Revenue Code involving the new 100% additional first-year depreciation deduction.

This deduction allows businesses to write off most depreciable business assets in the year they are placed in service by the business.

The regulations released on IRS.gov have been submitted to the Federal Register and may vary slightly from the published documents due to minor editorial changes, the IRS said in a news release. The documents published in the Federal Register will be the official documents.

The final regulations finalize the proposed regulations issued in August 2018 that implement several provisions included in the Tax Cuts and Jobs Act. The proposed regulations contain new provisions not addressed previously.

For more information, head to irs.gov

Don't miss the big stories. Like us on Facebook.
THE LATEST
Sisolak expands directive mandating social distancing

Golf courses, showrooms and in-home styling services have been shut down under Gov. Steve Sisolak’s expanded social distancing directive announced Wednesday.

Pahrump Senior Center announces changes

The Pahrump Senior Center has made a few operational modifications until the facility is able to reopen, after closing its doors due to the COVID-19 virus outbreak.

Locals take part in drive-up food distribution

Scores upon scores of vehicles were lined up on Monday, April 6, as individuals and families took advantage of a one-day food distribution program at New Hope Fellowship’s Path of Hope Ministry, located at 781 West St.

Nye County prepped for COVID-19

During a special teleconference meeting of the Nye County Commission on Friday, April 3, the first held by that body since the new coronavirus struck the county, Nye County Emergency Management Director Scott Lewis kicked things off with an overview of the county’s COVID-19 response and the task force that has been assembled to lead that response.

Nevada Realtors responds to eviction moratorium

The Nevada Realtors, a professional trade association, released a statement in support of Gov. Steve Sisolak’s move to creat an eviction moratorium in Nevada.

New website will help older Nevadans deal with coronavirus

The state Aging and Disability Services Division has set up a new website to help senior Nevadans and their caregivers find resources in the face of the COVID-19 epidemic.