WASHINGTON, Oct. 2 -- Internal Revenue Service has issued a rule called: Interest Capitalization Requirements for Improvements That Constitute Designated Property.
The rule was published in the Federal Register on Oct. 2 by Edward T. Killen, Acting Chief Tax Compliance Officer.
Summary: This document contains final regulations that, with regard to the interest capitalization requirements for improvements constituting designated property, remove the associated property rule and similar rules from the existing regulations. In addition, this document contains final regulations that modify the definition of "improvement" for purposes of applying those existing regulations. Lastly, this document contains final regulations that modify other rul...