KPMG report - Treatment of “materials” and “supplies” under tangible property regulations 

March 18:  The treatment of materials and supplies under the final tangible property regulations potentially creates both compliance risks and opportunities.

Identifying and determining the proper tax treatment of rotable and temporary spare parts and of stand-by emergency spare parts, in particular, has been a source of considerable taxpayer uncertainty.


This KPMG report distinguishes the various types of materials and supplies and the proper tax treatment for each of those categories under the final tangible property regulations, while also providing helpful tips and insights regarding these costs.


Read a March 2014 report [PDF 240 KB] prepared by KPMG LLP: What’s News in Tax: The Tangible Property Regulations: The Treatment of “Materials” and “Supplies”




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