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The IRS and Treasury have finalized proposed regulations published in 2019 providing additional rules for bonus depreciation under Section 168(k), as amended by the 2017 tax reform act (the Act).  These final regulations also provide clarifications to earlier final regulations under Section 168(k) (2019 final regulations). 

Like the proposed regulations that preceded them, the final regulations provide helpful clarifications and rules that expand the availability of bonus depreciation for many taxpayers.