Free White Paper: Electing Out of Bonus Depreciation for Refundable Credits
The Housing and Economic Recovery Act of 2008 allows corporate taxpayers to elect to forgo a deduction for bonus depreciation on qualifying property and instead claim a refund for unused research and AMT credits from tax years beginning before 2006 under IRS Section 168(k)(4). The American Recovery and Reinvestment Act of 2009 and the Tax Relief, Unemployment Insurance Reauthorization, and Job Creation Act of 2010 both modified this provision.
Learn more about this complex provision and find out what you need to consider in order to make the decision most beneficial to your bottom line.
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