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Gary L. Maydew, Ph.D, CPA
The Supreme Court's landmark holding in INDOPCO (503 U.S. 79, 69 AFTR2d 92-694 (1990)) both changed the criteria for capitalizing assets and raised the bar for expensing to new and more difficult heights.
INDOPCO created uncertainty on the part of IRS agents and tax practitioners alike, so the IRS, seeking to clarify capitalization rules, issued proposed regulations on Code Sec. 263 in Dec. 2002 [67 FR 77701, Dec. 19, 2002].
Final regulations were issued in January 2004, effective for amounts paid or incurred on or after December 31, 2003 [69 FR 436, January 5, 2004].
This course will acquaint the user with the new rules on capitalizing acquired intangibles, created intangibles, and certain other instances in which expenditures must be capitalized.
It will also cover the new rules on capitalizing intangibles acquired in a business acquisition. The Code Sec. 197 rules for amortizing certain intangibles will also be reviewed.
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Course Details
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Price: $45.00
Field of Study: Taxes
Prerequisites: Basic knowledge of treatment of intangibles
Level: Update
CTEC course number: 1075-CE-5069
Course was last updated on: 01/14/08
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Library:
Learning Center Core
Technical Requirements:
To view and print downloadable content files available in this program, you will need Adobe Acrobat Reader. You can download the free Reader plugin at Adobe's website by clicking on the icon below, then following the instructions for installation on your computer.
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| Credit Available For: |
Units |
| CPE |
3 CPE |
| QAS |
3 CPE |
| Enrolled Agent (Accepted by the IRS) |
3 CPE |
| CTEC Federal |
3 CE |
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Note: Recommended CPE credit is based on a 50-minute hour. Participants earning credits for states that require self-study to be based on a 100-minute hour will receive half the recommended CPE credits for successful completion of this course.
Since Continuing Professional Education requirements vary from state to state and are subject to change without notice, please contact your state board of accountancy for information on your CPE requirements and the applicability of this course to meet those specifications.
CCH has been approved by the California Tax Education Council to offer courses that provide federal and state credit towards the annual "continuing education" requirement imposed by the State of California. A listing of additional requirements to register as a tax preparer may be obtained by contacting CTEC at P.O. Box 2890, Sacramento, CA, 95812-2890, toll-free by phone at (877) 850-2832, or on the Internet at www.ctec.org.
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