The U.S. IRS has released an international practice unit on Interest Capitalization for Self-Constructed Assets. The process overview of the practice unit includes the following: NOTE: Under the Tax Cuts and Jobs Act, Public Law 115-97, Act Section 13102, effective for tax years beginning after 12/31/2017, a small business taxpayer is not required to capitalize costs under section 263A. A small business taxpayer is a taxpayer that (a) has average annual gross receipts of $25 million (indexed for inflation) or less for the 3 prior tax years and (b) is not a tax shelter (as defined in section 448(d)(3)). This...