Ambridge’s Placed in Service Insurance policy has been developed to address the concern of a taxpayer that the IRS determines that one or more of its assets has either failed to be “placed in service” at a specific point in time or at all, thus causing potentially serious tax consequences. The issue of Placed in Service Insurance Liability is not limited to one specific area of tax law and as such, Ambridge’s Placed in Service Liability Insurance policy can be used to address the following:

• Amortization and Depreciation of assets, including “Bonus Depreciation”
• Section 29-related assets
• Section 47-related assets
• Other Tax Credit issues

Because “placed in service” is something of a fundamental concept in the U.S. income tax system, this list is not exhaustive. Your clients’ tax directors will likely be able to identify other areas in which this issue is implicated.