The U.S. Internal Revenue Service (IRS) provided a safe-harbor method to determine depreciation deductions for passenger automobiles that qualify for the 100 percent additional first-year depreciation deduction and that are subject to the depreciation limitations for passenger automobiles under Sec. 280F. The Tax Cuts and Jobs Act (TCJA), P.L. 115-97, permits additional first-year depreciation (bonus depreciation) for qualified property, including passenger automobiles, acquired and placed in service after Sept. 27, 2017, and before Jan. 1, 2027. Read more at The Tax Adviser.