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Baucus Releases Discussion Draft on Cost Recovery and Accounting Tax Reform

Senator Max Baucus (D-Mont.) released a new tax reform discussion draft on cost recovery and accounting rules, with the stated goal of a simpler, fairer system that promotes tax neutrality.  The draft proposals address the rules governing depreciation of tangible and intangible assets, as well as certain tax accounting rules and rules affecting small businesses.  Significant proposals...

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