New COVID-19 Law Makes Favorable Changes to “Qualified Improvement Property”

The law providing relief due to the coronavirus (COVID-19) pandemic contains a beneficial change in the tax rules for many improvements to interior parts of non-residential buildings. This is referred to as qualified improvement property (QIP). You may recall that under the Tax Cuts and Jobs Act (TCJA), any QIP placed in service after December … Continue reading “New COVID-19 Law Makes Favorable Changes to “Qualified Improvement Property””