![IRS Time Is Running Out To Elect Out Of New 100 Depreciation Deduction](https://www.taxconnections.com/taxblog/wp-content/uploads/IRS-Time-Is-Running-Out-To-Elect-Out-Of-New-100-Depreciation-Deduction.jpg?resize=90%2C90&ssl=1)
The Internal Revenue Service today reminds business taxpayers who placed qualifying property in service during 2017 but choose not to claim the new 100-percent depreciation deduction, that they have a limited time to file the required election with the IRS.
In general, individuals and calendar-year corporations must file the election with the IRS by Oct. 15, 2018. The new 100-percent deduction allows businesses to write off most depreciable business assets in the year they are placed in service. Read More
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