Skip to main content
Windfall Deductions from Changing Depreciation
Journal of Property Management (1996)
  • Francine J. Lipman
  • James E. WIlliamson

A revenue procedure issued by the IRS may enable real estate managers and owners who have not fully enjoyed the depreciation benefits allowed by tax laws to avail of windfall tax deductions. Revenue Procedure 96-31 allows taxpayers who have made claims lower than the allowable depreciation in previous tax years to automatically change their accounting method for depreciation without user fees. The procedure not only authorizes an automatic change from an impermissible depreciation method or life to a permissible method or life, but also grants the taxpayer the right to subtract the full amount of the difference between the depreciation originally claimed and the amount allowed under an impermissible depreciation method or life.

  • Revenue Procedure 96-31
Publication Date
September, 1996
Citation Information
Francine J. Lipman and James E. WIlliamson. "Windfall Deductions from Changing Depreciation" Journal of Property Management Vol. 61 (1996)
Available at: