UOPSUniversity Outreach and Public Service (University of Illinois)
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References in periodicals archive ?
A critical factor in determining whether an expense is for an improvement or a repair is identifying the relevant "unit of property" (UOP).
(26) Based on the examples, the IRS and Treasury seemingly accept that up to 20 percent of similar structural components of a building (e.g., up to 20 percent of the foundation, the walls, partitions, roof, or windows tested as separate UOPs) or up to 20 percent of a building's "systems" (e.g., plumbing, electrical, fire protection and alarm system, HVAC, elevators, or escalators--again tested as separate UOPs) can be replaced or repaired before a restoration has occurred.
They explored and assessed various types of hardware and software; bookmarked relevant Internet sites; evaluated Web sites; and used a listserv to share ideas, strategies and resources, while developing two UOPs addressing state and national standards.
An important step in determining how to classify expenditures is identifying the "unit of property" (UOP).