Making Section 179 Elections-One More Time

Abstract

<p>As we have discussed before,<strong>1 </strong>Section 179 elections cannot be made on amended returns for taxable years beginning after December 31, 2007, without the Commissioner’s consent.<strong>2 </strong>The Department of the Treasury has had the authority to allow late elections but has failed to publish regulations permitting that to be done.<strong>3 </strong>The extension of time by one year (through 2011) for taxpayers to <em>revoke </em>Section 179 elections<strong>4 </strong>without changing the rules <em>for </em>late elections has provided further evidence that late elections still cannot be made without the Commissioner’s consent.</p>