The permanent change permits full expensing under Section 179 of the IRS tax code by exempting depreciation of vans and light trucks under Section 280F. To qualify for the extended depreciation, the vehicles must be modified to meet business needs, such as those outfitted with ladder racks or a company logo. Trucks and vans straight off the lot do not qualify.
In April, DOL issued its long-awaited and highly controversial revisions to the federal regulations defining who is, and who is not, exempt from overtime pay.