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September 21, 2023

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Tax

Berry Bad Tax Policy

by Caleb Newquist

There's a thorny issue in the legislation approved by the House of Representatives last month that would revive bonus depreciation. Marc Heller of BNA discovered that while fruits and nuts that come from trees and vines will qualify under this version of the bill, bushes are losing out due to an omission in the language.

In addition to blueberries, Howard Gleckman writes that this means raspberries and some cranberries wouldn't be eligible for the deduction.

Luckily, it sounds like this was simply an oversight and a congressional aide told Heller that the bill can be amended so it can bear fruit for bushes, too.  

Man, isn't tax policy sweet?

[BNA via TaxVox]

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