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February 5, 2013 3:38 pm
IRS on Tumblr
Twitter. YouTube. Now you can add Tumblr to the list of social media sites where you can find the IRS. Here you can view videos, podcasts, and more about taxes from the IRS.
The IRS expects to share information on such topics as late tax law changes, the earned income tax credit, and Free File. Currently, you’ll find information posted about more relief for certain New Jersey and New York victims of Hurricane Sandy. Find the IRS here (http://internalrevenueservice.tumblr.com/).
Source: IR-2013-13
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Tax Glossary
Accelerated depreciation
Depreciation methods that allow faster write-offs than straight-line rates in the earlier periods of the useful life of an asset. For example, in the first few years of recovery, MACRS allows a 200% double declining balance write-off, twice the straight-line rate.
