[US] IRS Issues Interim Guidance on 100% Depreciation for Production Property
The IRS dropped Notice 2026-16 on 20 February, giving taxpayers interim rules for the new special depreciation allowance under the One, Big, Beautiful Bill. If you placed qualifying manufacturing, refining, chemical, or agricultural property into service after 4 July 2025, you can elect 100% depreciation. Comments due in 60 days.