Interest Capitalization Unit Revised for Appropriations Act Changes

Interest Capitalization Unit Revised for Appropriations Act Changes

Internal Revenue Service

The IRS has revised a prior practice unit on the section 263A(f) requirement to capitalize interest if a taxpayer produces designated property to reflect a change by the Further Consolidated Appropriations Act, 2020, to the ending production period of the aging process of beer, wine, and distilled spirits in section 263A(f)(4)(B) from December 31, 2019, to December 31, 2020.

The IRS has revised a prior practice unit on the section 263A(f) requirement to capitalize interest if a taxpayer produces designated property to reflect a change by the Further Consolidated Appropriations Act, 2020, to the ending production period of the aging process of beer, wine, and distilled spirits in section 263A(f)(4)(B) from December 31, 2019, to December 31, 2020.

The IRS has revised a <a href="/lr/resolve//29bps">prior practice unit</a> on the section 263A(f) requirement to capitalize interest if a taxpayer produces designated property to reflect a change by the Further Consolidated Appropriations Act, 2020, to the ending production period of the aging process of beer, wine, and distilled spirits in section 263A(f)(4)(B) from December 31, 2019, to December 31, 2020.

The IRS has revised a prior practice unit on the section 263A(f) requirement to capitalize interest if a taxpayer produces designated property to reflect a change by the Further Consolidated Appropriations Act, 2020, to the ending production period of the aging process of beer, wine, and distilled spirits in section 263A(f)(4)(B) from December 31, 2019, to December 31, 2020.