>ITAA's Year 2000 Outlook >October 24, 1997 >IRS Ruling Offers Choice on Y2K Tax Treatment >The Internal Revenue Service (IRS) has issued a ruling allowing the amortization of Y2K conversion costs (The ruling >will appear an Internal Revenue Bulletin on November 10, 1997). According to Rev. Proc. 97-50, Part III, Section >3, the IRS has established guidelines allowing a taxpayer, in its trade or business, to amortize the costs of conversion >or replacement of computer software to recognize dates beginning in the Year 2000. Such accounting for Y2K >software costs, whether purchased, developed, leased or converted, will fall "within the purview of Rev. Proc. >69-21." You can find this at the ITAA site (www.itaa.org) in the Y2K section. Specifically you can find this text at: http://www.itaa.org/script/2000let2.cfm?IssueID=105 +--- | This is the Midrange System Mailing List! | To submit a new message, send your mail to "MIDRANGE-L@midrange.com". | To unsubscribe from this list send email to MAJORDOMO@midrange.com | and specify 'unsubscribe MIDRANGE-L' in the body of your message. | Questions should be directed to the list owner/operator: firstname.lastname@example.org +---
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