Department of Treasury November 10, 2020 – Federal Register Recent Federal Regulation Documents

Proposed Establishment of the Ulupalakua Viticultural Area
Document Number: 2020-24143
Type: Proposed Rule
Date: 2020-11-10
Agency: Alcohol and Tobacco Tax and Trade Bureau, Department of Treasury, Department of the Treasury
The Alcohol and Tobacco Tax and Trade Bureau (TTB) proposes to establish the approximately 70-acre ``Ulupalakua'' viticultural area on the island of Maui, Hawaii. The proposed viticultural area is not within any other established viticultural area. TTB designates viticultural areas to allow vintners to better describe the origin of their wines and to allow consumers to better identify wines they may purchase. TTB invites comments on this proposed addition to its regulations.
Proposed Expansion of the Clarksburg Viticultural Area
Document Number: 2020-24140
Type: Proposed Rule
Date: 2020-11-10
Agency: Alcohol and Tobacco Tax and Trade Bureau, Department of Treasury, Department of the Treasury
The Alcohol and Tobacco Tax and Trade Bureau (TTB) proposes to expand the approximately 64,640-acre ``Clarksburg'' viticultural area by approximately 27,945 acres. The Clarksburg viticultural area is located in Sacramento, Solano, and Yolo Counties, in California, and the proposed expansion area is located in Sacramento and Solano Counties. The established Clarksburg viticultural area and the proposed expansion area are not located within any established viticultural area. TTB designates viticultural areas to allow vintners to better describe the origin of their wines and to allow consumers to better identify wines they may purchase. TTB invites comments on this proposed amendment to its regulations.
Additional First Year Depreciation Deduction
Document Number: 2020-24026
Type: Proposed Rule
Date: 2020-11-10
Agency: Internal Revenue Service, Department of Treasury, Department of the Treasury
This document withdraws a portion of a notice of proposed rulemaking published in the Federal Register on September 24, 2019. The withdrawn portion relates to the extent to which a partner is deemed to have a depreciable interest in property held by a partnership.
Additional First Year Depreciation Deduction
Document Number: 2020-21112
Type: Rule
Date: 2020-11-10
Agency: Internal Revenue Service, Department of Treasury, Department of the Treasury
This document contains final regulations that provide guidance regarding the additional first year depreciation deduction under section 168(k) of the Internal Revenue Code (Code). These final regulations reflect and further clarify the increased deduction and the expansion of qualified property, particularly to certain classes of used property, authorized by the Tax Cuts and Jobs Act. These final regulations generally affect taxpayers who depreciate qualified property acquired and placed in service after September 27, 2017.