On 5 February 2015, the U.S. IRS issued Revenue Procedure 2016-14, which includes additional inflation adjustments for 2016 resulting from the enactment of the Protecting Americans from Tax Hikes (PATH) Act (tax extenders) on 18 December 2015.

The main adjustment concerns the election to expense certain depreciable assets (§ 179 property). For taxable years beginning in 2016, the aggregate co…