CSSI has compiled educational resources to assist Tax Professionals to understand and implement the Tangible Property Regulations.

This guide links to executive summaries, question and answer sites, and an index of the Federal Register to easily find examples specific to your client’s situation.

Just click and open files of information.

Executive Summaries & Articles

AICPA - Bullet Summary / Overview/De minimis Written Policy Template

Index of Examples in Federal Register

Questions and Answers

Revenue Procedures 2014-16 , 2014-17

A)

B)

C)

D)

E)

RP 2014-16, 2014-17 Explained F)

G)

H)

Revenue Procedures 2014-54

RP 2015-13 & 2015-14

A) AICPA Resources: Summary Chart – Overview-Written Policy Template

• This is the most concise summary of the regulations in the industry. Six pages in bullet form. You will want to print this and keep it as a document to refer to when reading other articles.

• If you only look at one, this is the one to look at. “5 Stars” *****

Quick Summary Chart of Final TPR

• Great Overview of the TPR that discusses the difficulties of implementation.

• Circular 230 Implications for Tax Professionals - discusses compliance risks.

Implementing the new TPR – Journal

of Accountancy

• OMG! You just found out that your client needs a Capitalization Policy in Place starting January 1 to be eligible for the De minimis Rule Safe Harbor.

• This document is priceless if your client does not have this in place already. Press the button to download the “Sample Written Book Capitalization Policy”. 5 stars*****

Written Policy Template from

AICPA

Click to access articles

B)

• This is a great article to start your research that compares the Temporary and Final Regulations in plain English in 11 pages.

• “4.5 Stars” *****

IRS Releases Comprehensive Repair/ Capitalization Final

Regulations Sept, 2013 CCH Tax Briefing

• What’s New, What’s the Same, and What is Means. This article is 44 pages with a great insight of the issues and comments on the impact of the regulations. This article dives into the details with codes cited. Highly recommended.

• “5 Stars”*****

Updated: Comprehensive Analysis of Final Repair /

Capitalization and Proposed MACRS Disposition

Regulations May, 2014 CCH Tax Briefing

• This article is an 8 page summary of the regulations with the final regs highlighted and 3115 advice discussed.

• “5 stars”*****

Dec, 2014 –Final Repair / Capitalization / MACRS

Regulations Update

Articles and Summaries

Articles and Summaries

• Part 1 Favorable changes to materials and supplies and de minimis safe harbors.

Materials and Supplies

De minimis Safe Harbors

• Part 2 Clarification and taxpayer-friendly safe harbors and elections added for acquisition and improvement rules.

Safe Harbors

Acquisition and Improvement

• Part 3 General Improvement Rules. General Improvement Rules

Disposition and GAA Accounts

C)

• Part 4 Disposition and GAA accounts.

AICPA 32 Questions that Explain the Regs

Commonly Asked Questions from Webinars

Questions and Answers

D)

Table of Contents

Materials and Supplies Examples

De minimis Rule Safe Harbor Examples

Routine Maintenance Safe Harbor Examples

Small Taxpayer Safe Harbor Examples

Betterment Examples

Adaptation Examples

Restoration Examples

E)

F) Revenue Procedure 2014-16 and 2014-17 Explained

• Implementation Guidance on TPR…a summary.

• Simplified Filing Requirement for Small Taxpayers.

Rev. Proc. 2014-16 Summary

• CCH article that summarizes Rev. Proc. 2014-16 and highlights the automatic consent procedures.

• Replaces Rev. Proc. 2012-19.

Repair Reg Accounting Method Change

Procedures

(Rev. Proc. 2014-16)

• CCH article that summarizes Rev Procedure 2014-17.

• Late Partial Disposition election under Proposed Reg 1.168 to be treated as a change in method of accounting for a limited period of time.

• Waives scope limitation in tax year 2014.

Accounting Method Changes under MACRS

(Rev. Proc. 2014-17)

RP 2011-14 superseded by RP 2015-13 & RP 2015-14 1/16/15

G) Revenue Procedure 2014-54 Explained

• Rev Proc. 2014-54.

• List of Change Numbers start on Page 81.

IRS.gov

Rev. Proc. 2014-54

• Quick List of Changes found in Rev. Proc. 2014-54.

• Allows Late Partial Disposition Election in tax year 2014 only.

CCH

Summary of 2014-54

Changes

RP 2011-14 superseded by RP 2015-13 & RP 2015-14 1/16/2015

H) Revenue Procedure 2015-13 & 2015-14

• Rev Proc. 2015-13.

• Replaces 2011-14.

IRS.gov

Rev. Proc. 2015-13

• Rev Proc. 2015-14.

• Continuation of 2015-13 issues.

IRS.gov

Rev. Proc.2015-14

RP 2011-14 superseded by RP 2015-13 & RP 2015-14 1/16/2015

ADMIN: CPA ECONOMIC & ACCOUNTING

CSSI Analysis Qualification Query

Provide Tax Depreciation Schedules - No Cost Estimate

Building Assets No Building Assets

TPR IMPLEMENTATION NEEDS – CPA FIRMS

CPA: EXPERT AND TRAINING (CPE)

Building Assets

No Building Assets/1040’s

COST SEGREGATION STUDY – SOURCE DOCUMENT BUILDING SYSTEMS AND PARTIAL DISPOSITION

Determine Application Functions: CPA and CSSI

Engage Client - Engagement Letters, Cost Segregation

All Clients: Capitalization Policy (every year) Adopting: 3115s

Partial Asset Disposition Material & Supplies

Expense/Cap Decision basis

Materials & Supplies Expense/Cap Decision basis

Partnering Qualification and Analysis

Client Contact and

Proposal Execution

Partnering Qualification and Analysis

Client Contact and

Proposal Execution

Partnering

to a time strategy and CPA revenue method

• CPA chooses contact coordinator(s) for CSSI

• Determine timetable for 2014 total completion dates

• Who performs 3115 Forms

• Agree on method of communication i.e. through each CPA and with each client

• Weekly progress report with CPA and CSSI provided by CSSI

Partnering Qualification and Analysis

Client Contact and

Proposal Execution

Qualification and Analysis

Mining the Data Base

• Query search for buildings and improvements in client data base

• CSSI analyzes Dep. Schedules to identify:

o Asset Valuation Candidates

o Cost Segregation Candidates

o Potentially Both Apply

o Not Applicable

• CSSI delivers predictive analysis to qualify each client

• CSSI gives project report of qualified and non-qualified clients

Partnering Qualification and Analysis

Client Contact and

Proposal Execution

Client Contact

• CPAs qualify their clients per

CSSI economic analysis and price

• Contact clients to discuss economic impact. 2 options

o CPA leads and contacts client

o CPA directs CSSI to qualified clients

• CPA sends letter to client introducing CSSI associate to implement

Partnering Qualification and Analysis

Client Contact and

Proposal Execution

Execution Coordinated with each CPA for their clients • CSSI collects data from client • Site survey to document building

and improvements • CPA informed on all activity for

each client • CSSI engineering- based processes

used to perform analysis o Asset Valuation of retired

building components o Cost Segregation to reclassify

assets to proper tax lives • Final Reports Delivered w/ Actual

vs Forecast Results • 3115 & 481(a) completed by CSSI

– Also for Opt In only clients • CSSI updates Progress Report

Ease of Compliance

CPA: 1-2 hrs per client

Timely completion

Client Satisfaction

100%: Grateful for effort to save taxes

Additional Revenue

$1,000-$3,000 per client