Bulletin No. 2008-38 September 22, 2008

of January 1, 2009. The effective date of Rev. Rul. 2006–57 is further delayed until January 1, 2010. Rev. Rul. 2006–57 modified.

Rev. Proc. 2008–54, page 722. This procedure provides guidance on the increased amount of IRC section 179 expensing and the 50% additional first year depreciation provided by sections 102 and 103, respectively, of the Economic Stimulus Act of 2008. Rev. Proc. 2007–66 modified and superseded. Notice 2007–36 clarified, modified, and amplified.

Announcement 2008–84, page 748. This announcement modifies the transition rules in the effective date provisions of Rev. Proc. 2008–52, 2008–36 I.R.B. 1, in general, to allow taxpayers to elect to apply the procedures of Rev. Proc. 2002–9 for applications to change a method of accounting filed on or after August 18, 2008, through September 15, 2008, subject to certain limitations. Rev. Proc. 2008–52 modified.