Tag Archives: Equipment

IRS Investigative Equipment Vulnerable to Waste and Loss

WASHINGTON – The Internal Revenue Service (IRS) should strengthen its controls over its investigative equipment to prevent waste and loss, according to a report publicly released today by the Treasury Inspector General for Tax Administration (TIGTA). The IRS’s Criminal Investigation (CI) Division has nearly 44,000 pieces of investigative equipment ranging from cars and badges to […]

Used Equipment

Today TaxMama hears from John on the Internet who wants to know “I am purchasing some used equipment for my business. It has been fully depreciated by the previous owner. What depreciation schedules do I follow for used assets? For example, if I buy an asset that has a 7 year life but it is […]