• Subject: Y2K Tax Treatment- IRS Offers Choice
  • From: Glenn Ericson <Glenn-Ericson@xxxxxxx>
  • Date: Wed, 29 Oct 1997 09:33:40 -0500

I'd like to  know *how* this 'about to be' ruling will
 change anyones  mind on when to start  the project
 and the method they might use.

If so  what might the  changes be?

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
mortization 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.

Glenn Ericson,          Phoenix Consulting                      
P O Box 701164   East Elmhurst NY 11370-3164 USA                            
Ph. 718 898 9805         Fx. 718 446 1150
AS/400 & Year 2000- - Solutions Specialists
  1997copyright,  all rights reserved

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