I believe the US Senate added HR 9395 (the bill to modify bonus depreciation back to 100% for 2023,2024 and 2025) as an amendment to the FAA reauthorization bill in the Senate. 

This methodology is advantageous for taxpayers since this does not involve filing amended tax returns.Other things to consider bonus depreciation, Qualified Improvement Property (QIP), and 179.

hello Shyam, You certainly can do a retroactive cost segregation study and either go back and amend your old return or you can take it on this years return.

Unfortunately, you can only go back so many years with amended returns.

Does each year have to be amended?

Yes, there is some chance if I repeat the guarantee over and over again as part of the marketing for the event, that some people might actually sign up to get free VIP training, food, tours, masterminding, etc. with the pre-planned intent of just asking for their money back, after they get everything, which I feel is frankly a little despicable… but, like I said, it will more likely help sell the event and we CERTAINLY would prefer that if someone were not happy for ANY reason, for them to simply tell us AT THE EVENT, so that we can make amends, rather than them just getting mad and us finding out after the fact, as happened with the prior poster.

Our firm likes to take it a step further and if we see mistakes amend those so you can get tax refund back from prior years. 

Undoing the mess via amendments, etc… always tends to be laborious and more expensive then getting these right the first time.Why are  CPAs seemingly not always in the room when GPs and their attorneys build out their RE Funds? 

They panic then have to pay someone to do an amended return and get a POA to figure things out with the IRS.

Also, before doing so ensure you can take full advantage of a cost segregation on a STR.You don't need to amend prior year returns to claim it.