IRS's mixed treatment of asbestos abatement costs.: An article from: The Tax Adviser

by Carol Conjura

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This digital document is an article from The Tax Adviser, published by American Institute of CPA's on June 1, 1994. The length of the article is 1478 words. The page length shown above is based on a typical 300-word page. The article is delivered in HTML format and is available in your Amazon.com Digital Locker immediately after purchase. You can view it with any web browser.

From the supplier: An IRS ruling requiring capitalization of the costs of asbestos removal and allowing deductions for encapsulation of asbestos helps to clarify the issue of when environmental remediation costs can be currently deducted. Prior rulings have generally required that costs be capitalized. When property value is significantly improved and environmental problems are permanently cured, the remediation constitutes an improvement and costs must be capitalized. Encapsulation is considered a repair because it is a temporary measure that does not significantly affect usefulness and value, and repairs can be deducted.

Citation Details
Title: IRS's mixed treatment of asbestos abatement costs.
Author: Carol Conjura
Publication: The Tax Adviser (Magazine/Journal)
Date: June 1, 1994
Publisher: American Institute of CPA's
Volume: 25 Issue: n6 Page: 360(3)

Distributed by Thomson Gale

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