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FGMK TAX ALERT: The Newly Issued Proposed Regulations and Their Impact on Section 168(k) Bonus Depreciation

On August 3, 2018, the government issued proposed regulations (REG-104397-18) (the “Proposed Regulations”) providing clarification to Section 168(k) of the Internal Revenue Code[1] (the “Code”), as modified by the Tax Cuts and Jobs Act of 2017 (the “Act”). Section 168(k) provides for the immediate expensing of a percentage of the cost of qualified property in …