IRS

AGC Continues to Push for Fix for “Retail Glitch”

On Oct. 9, AGC joined industry allies in urging Secretary of the Treasury Steven Mnuchin to have the Internal Revenue Service (IRS) issue interim guidance to correct a drafting error from the Tax Cuts and Jobs Act (TCJA) that accidentally changed the depreciation period for certain commercial real estate improvements to 39 years, instead of 15 years—or