- Ag Docket
(“all events” test pegs time when taxpayer incurs expenses for purposes of first-year bonus election; qualified property is deemed acquired when taxpayer pays or incurs cost of property; ruling involved contract construction work and IRS determined that costs are incurred when all event have occurred establishing fact of liability, amount of liability can be ascertained with reasonable certainty, and property provided to taxpayer; an acquired component of larger self-constructed property is “acquired” when taxpayer incurs cost of acquired component).
CALT does not provide legal advice. Any information provided on this website is not intended to be a substitute for legal services from a competent professional. CALT's work is supported by fee-based seminars and generous private gifts. Any opinions, findings, conclusions or recommendations expressed in the material contained on this website do not necessarily reflect the views of Iowa State University.