The IRS issued Rev. Proc. 2014-17 on Feb. 28, which provides taxpayers with rules for filing method changes for dispositions of tangible depreciable property. The revenue procedure is the companion to the recently issued Rev. Proc. 2014-16, which addressed filing method changes under certain provisions of the final "repair regulations."

Read more on  Rev. Proc. 2014-17 and Rev. Proc. 2014-16.

The content of this article is intended to provide a general guide to the subject matter. Specialist advice should be sought about your specific circumstances.