50 percent bonus depreciation for assets placed in service in 2015.

• Author: Josephs, Stuart R.
• Position: FED TAX UPDATE

Under Rev. Proc. 2016-48 (IRB 2017-37, Sept. 12), taxpayers that have not yet claimed the additional 50 percent first-year bonus depreciation deduction for business equipment and software can now claim this deduction by filing an amended income tax return for their:

* Tax year beginning in 2014 and ending in 2015; or

* Tax year of less...