2012 Tax Notes

44 days left to file tax returns

• IRS issues 2012 automobile depreciation limitations
  The Internal Revenue Service on Friday released the 2012 inflation-adjusted depreciation limits and lease income inclusion amounts for passenger automobiles, trucks and vans. The 2012 tables include amounts for vehicles placed in service in 2012 for which bonus depreciation applies as well as limits for those for which bonus depreciation does not apply.JournalofAccountancy.com