RP-2016-48: PATH Act Extenders

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August 26, 2016

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Issue Number: RP-2016-48

Inside This Issue

Revenue Procedure 2016-48 provides guidance to taxpayers for making certain elections and filing amended returns to avail themselves of extenders from the PATH Act. The PATH 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.

Revenue Procedure 2016-48 will be in IRB 2016-37, dated September 12, 2016.

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