BBB & 100% Bonus Depreciation retun

[Rohullah Sharifi]

With the reinstatement of 100% bonus depreciation, many clients stand to benefit significantly through increased deductions and potential refunds. For those who placed qualified assets in service during early 2024, amending their returns could result in a reduced tax liability or a substantial refund. While IRS guidance is forthcoming, this change creates a strong opportunity for clients to enhance cash flow and optimize their tax position. As tax professionals, it’s our role to identify these opportunities, communicate the potential benefits clearly, and guide clients through the amendment process to ensure they receive the full value of this retroactive provision.