SECTION 8. MODIFICATIONS TO

REV. PROC. 2020-25

.01 Section 4.01 of Rev. Proc. 2020-25 is modified to read as follows:

.01 Scope . This section 4 applies to: (1) A taxpayer that (a) placed in service depreciable property during its 2018, 2019, or 2020 taxable year, (b) timely filed its Federal income tax return or Form 1065 for the placed-in-service year of such depreciable property and such return was filed on or before April 17, 2020, (c) wants to make a § 168(g)(7) election, § 168(k)(5) election, or § 168(k) (7) election for such depreciable property, and (d)(i) did not previously revoke or withdraw such election(s) in accordance with section 5.02 of this revenue procedure, or (ii) did not previously revoke such § 168(k)(5) election or § 168(k)(7) election in accordance with section 6 of Rev. Proc. 2020-50, 2020-48 I.R.B. 1122. The taxpayer makes the § 168(g)(7) election, § 168(k)(5) election, or § 168(k) (7) election in accordance with section 2.02(1), (2), or (3), respectively, of this revenue procedure or under section 4.02 of this revenue procedure; or

(2) A taxpayer that (a) timely filed its Federal income tax return or Form 1065 for the taxpayer’s taxable year that includes September 28, 2017, (b) wants to make a § 168(k)(10) election for such taxable year, and (c) did not previously revoke a § 168(k)(10) election for such taxable year in accordance with section 5.02 of this revenue procedure or with section 6 of Rev. Proc. 2020-50. The taxpayer makes the § 168(k)(10) election in accor

dance with section 2.02(4) of this revenue procedure or under section 4.02 of this revenue procedure.