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TREAS/IRS RIN: 1545-BI15 Publication ID: Fall 2008 
Title: ●Guidance on Definition of Qualified Timber Property Under IRC Section 194 
Abstract: Guidance on Definition of Qualified Timber Property under IRC section 194. The American Jobs Creation Act made significant changes to existing section 194 by adding an annual deduction for reforestation expenditures in the amount of $10,000 per qualified timber property to the existing amortization of reforestation expenditures. Issues involving basis reduction have lead to a request for guidance on the definition of qualified timber property under section 194 as amended by the American Jobs Creation Act. 
Agency: Department of the Treasury(TREAS)  Priority: Substantive, Nonsignificant 
RIN Status: First time published in the Unified Agenda Agenda Stage of Rulemaking: Long-Term Actions 
Major: No  Unfunded Mandates: Undetermined 
CFR Citation: 26 CFR 1   
Legal Authority: 26 USC 194    26 USC 7805   
Legal Deadline:  None
Timetable:
Action Date FR Cite
Next Action Undetermined  To Be Determined    
Additional Information: REG-133283-08 Drafting attorney: Jennifer C. Bernardini (202) 622-3110 Reviewing attorney: Brenda M. Stewart (202) 622-3110 Treasury attorney: John Parcell (202) 622-2578 CC: PSI
Regulatory Flexibility Analysis Required: Undetermined  Government Levels Affected: Undetermined 
Federalism: No 
Included in the Regulatory Plan: No 
RIN Data Printed in the FR: No 
Agency Contact:
Jennifer C. Bernardini
General Attorney
Department of the Treasury
Internal Revenue Service
1111 Constitution Avenue NW., Room 5114C,
Washington, DC 20224
Phone:202 317-6853
Fax:855 591-7868
Email: jennifer.c.bernardini@irscounsel.treas.gov