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TREAS/IRS RIN: 1545-BJ93 Publication ID: Fall 2016 
Title: Capitalization of Amounts Paid To Repair, Improve, or Rehabilitate Tangible Property 
Abstract:

This document contains temporary regulations that explain how section 263(a) of the Internal Revenue Code (Code) applies to amounts paid to acquire, produce, or improve tangible property. The proposed regulations clarify and expand the standards in the current regulations under section 263(a), as well as provide some bright-line tests (for example, a de minimis rule for acquisitions). The temporary regulations will affect all taxpayers that acquire, produce, or improve tangible property. On August 21, 2006, the IRS and Treasury Department published in the Federal Register (71 FR 161) proposed amendments to the regulations under section 263(a) (2006 proposed regulations) relating to amounts paid to acquire, produce, or improve tangible property. The IRS and Treasury Department received numerous written comments. A public hearing was held on December 19, 2006. After considering the comment letters and the statements at the public hearing, the IRS and Treasury Department withdrew the 2006 proposed regulations and proposed new regulations (2008 proposed regulations) (73 FR 12838). After considering the comment letters and input from the Service, the IRS and Treasury Department are planning to withdraw the 2008 proposed regulations and propose new regulations, which will also be issued in temporary form. Included as part of the new project will be temporary and proposed regulations under section 1.168 revising certain property disposition rules. This Regulatory Information Data Form is being submitted to request a RIN for the temporary regulations to accompany the re-proposed regulations (RIN 1545-BE18).

 
Agency: Department of the Treasury(TREAS)  Priority: Other Significant 
RIN Status: Previously published in the Unified Agenda Agenda Stage of Rulemaking: Completed Actions 
Major: No  Unfunded Mandates: No 
CFR Citation: 26 CFR 1.162-3    1.162-4    1.162-6    1.162-11    26 CFR 1.165-2    1.165-2(T)    26 CFR 1.167(a)-4    1.167(a)-7    1.167(a)-7T    1    26 CFR 1.168(i)-0    1.168(i)-0T    1.168(i)-1    1.    26 CFR 1.263(a)-0    1.263(a)-1    1.263(a)-2    1.    26 CFR 1.263A-1    26 CFR 1.1016-3    1.1016-3(T)     (To search for a specific CFR, visit the Code of Federal Regulations.)
Legal Authority: 26 U.S.C. 162    26 U.S.C. 165    26 U.S.C. 167    26 U.S.C. 168    26 U.S.C. 263(a)    26 U.S.C. 263(A)    26 U.S.C. 1016    26 U.S.C. 7805   
Legal Deadline:  None
Timetable:
Action Date FR Cite
Final Rule and Removal of Temporary Regulations: TD 9636  09/13/2013  78 FR 57686   
Final Rule and Removal of Temporary Regulations Effective  09/13/2013 
Additional Information: REG-168745-03 Drafting attorney: Merrill D. Feldstein (202) 622-4950 Reviewing attorney: Scott K. Dinwiddie (202) 622-4800 Treasury attorneys: Brandon Carlton (202) 622-6865 and Eric Lucas (202) 622-0869 CC: ITA
Regulatory Flexibility Analysis Required: No  Government Levels Affected: None 
Small Entities Affected: No  Federalism: No 
Included in the Regulatory Plan: No 
RIN Data Printed in the FR: No 
Related RINs: Related to 1545-BE18 
Agency Contact:
Merrill D. Feldstein
Senior Counsel
Department of the Treasury
Internal Revenue Service
1111 Constitution Avenue NW.,
Washington, DC 20224
Phone:202 622-4950
Fax:202 622-6316
Email: merrill.d.feldstein@irscounsel.treas.gov