Today, the IRS issued Revenue Procedure 2015-48, which provides guidance with respect to certain changes to the Code made by the Tax Increase Prevention Act of 2014 (TIPA).  The guidance addresses amendments to section 168(k) that extended the placed-in-service date for property to qualify for the 50% additional first-year depreciation deduction.  The guidance also addresses the amendment to section 168(k)(4) allowing corporations to elect not to claim the 50% additional first-year depreciation deduction for certain property placed in service generally after December 31, 2013, and before January 1, 2015, and instead to increase their alternative minimum tax (AMT) credit limitation under section 53(c).  In addition, the guidance addresses changes made by the act to extend the application of section 179(f), which allows the taxpayer to treat qualified real property as section 179 property eligible for expensing.