The U.S. IRS and Treasury have issued Rev. Proc. 2019-33, which provides guidance on making or revoking elections for the additional first year depreciation in light of changes made by the Tax Cuts and Jobs Act. --- WASHINGTON — The Internal Revenue Service today issued a revenue procedure allowing a taxpayer to make a late election, or to revoke an election, under section 168(k) for certain property acquired by the taxpayer after September 27, 2017, and placed in service by the taxpayer during its taxable year that includes September 28, 2017. The Tax Cuts and Jobs Act (TCJA) made several...