The IRS recently released Revenue Procedure 2015-20, which provides relief for small-business taxpayers who adopt new rules that comply with the IRS’s tangible property regulations. These regulations generally govern whether expenditures on tangible property may be expensed or must be depreciated.The relief applies to any separate trade or business of a taxpayer that has total assets of less than $10 million or average annual gross receipts of $10 million or less for the three prior years. This may apply to some dealerships. The revenue procedure allows small-business taxpayers to make changes in methods of accounting associated with the tangible property regulations without filing Form 3115.Dealers currently working with their tax preparers to adopt the regulations are encouraged to discuss the applicability of this new simplification provision.