Eversheds Sutherland Tax Reform Law Blog
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Treasury and IRS Guidance will not Address Qualified Improvement Property

During an ABA Tax Section meeting in Atlanta on October 5, 2018, officials from the Treasury Department and the IRS announced that they will not be able to provide an administrative fix for the drafting error in the qualified improvement property provision of section 168(k).  Rather, the officials stated that Congress must make a technical correction, as the agencies do not have...