On June 1, 2022, the Internal Revenue Service (IRS) released the latest edition of the audit technique guideline (ATG). The recent round of updates take a look at the complexity around cost segregation studies and provide more guidelines and clarity for these studies.
In Cherry Bekaert’s latest Tax Credits and Incentives Advisory’s (TCIA) podcast, Ron Wainwright, a Strategic Tax Partner and Leader of the Cost Segregation Practice in the TCIA group, and Sean O’Leary, a Senior Manager, dive into these cost segregation study updates and provide deeper guidance, discuss the new audit technique guideline (ATG) for cost segregation.
Chapter Markers:
- 1:24 – What is the Cost Segregation ATG?
- 2:15 – Background on ATG
- 4:30 – Latest ATG Changes
- 7:47 – Areas of Focus for IRS
- 11:21 – What to Expect from an IRS Audit
- 23:30 – Impact of Cost Segregation on Taxpayers
- 26:33 – Concluding Thoughts
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