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Part III

Administrative, Procedural, and Miscellaneous

26 CFR 601.105: Examination of returns and claims for refund, credit, or abatement; determination of correct tax liability. (Also: Part I, §§ 280F; 1.280F-7.)

Rev. Proc. 2011-21

SECTION 1. PURPOSE

This revenue procedure provides: (1) limitations on depreciation deductions for

owners of passenger automobiles first placed in service by the taxpayer during calendar

year 2011, including separate tables of limitations on depreciation deductions for trucks

and vans; (2) the amounts that must be included in income by lessees of passenger

automobiles first leased by the taxpayer during calendar year 2011, including a

separate table of inclusion amounts for lessees of trucks and vans; and (3) revised

tables of depreciation limitations and lessee inclusion amounts for passenger

automobiles that were first placed in service or first leased by the taxpayer, respectively,

during 2010 and to which the 50 percent additional first year depreciation deduction

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