Tax
Mar. 26, 2026
IRS issues guidance on qualified production property
The IRS's new guidance on qualified production property (QPP) clarifies eligibility, allocation and recapture rules, giving taxpayers a significant opportunity to claim accelerated depreciation for property used in manufacturing, refining or production.
Phil Jelsma
Partner and Chair of the Tax Practice Team
Crosbie Gliner Schiffman Southard & Swanson LLC (CGS3)
Email: pjelsma@cgs3.com
Phil is chair of the tax practice team at CGS3. He is recognized as a leading joint venture and tax attorney, with a 30-year background in real estate exchange transactions, syndications, nonprofit corporations and international tax planning.
New guidance from the Internal Revenue Service (IRS)
related to qualified production property (QPP) creates a significant
opportunity for companies to expense certain property used in manufacturing,
refining or production.
Last month, the IRS issued Notice 2026-16--the first formal guida...
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