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Internal Revenue Bulletin:  2016-37 

September 12, 2016 


Table of Contents

Rev. Proc. 2016–48Rev. Proc. 2016–48

The Protecting Americans from Tax Hikes Act of 2015 generally extends the application of the additional first year depreciation deduction (bonus depreciation), the election out of bonus depreciation for round 5 extension property, and the expensing provision for qualified real property, for property placed in service in 2015. This revenue procedure provides guidance to taxpayers for making these elections and filing amended returns.

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