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Technology Stocks : TAVA Technologies (TAVA-NASDAQ)
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To: Jack Zahran who wrote (5547)11/6/1997 1:37:00 PM
From: Emec  Read Replies (1) of 31646
 
Thought I'd share some new tax news."Recent IRS guidance allowing companies to deduct costs incurred to convert or replace computer software to handle dates starting with the year 2000 won praise from practitioners. Revenue Procedure 97-50 affirmed that costs paid or incurred to purchase year 2000 compliant software could be deducted rather than capitalized. It put to bed a latent issue out there.
From BNA Daily Tax Report.
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