This publication provides timely updates on a range of federal income tax issues including accounting methods and inventories, depreciation, long-term contract accounting, leasing, fringe benefits, and other miscellaneous tax issues.
This month's features:
- There is still time to file automatic accounting method changes for calendar year 2010
- Automatic accounting method changes from one permissible depreciation method to another permissible method are made on a cut-off basis
- IRS issues final regulations under §§ 195, 248 and 709
- FFA 201112701F: Bank enterprise award payments
- Overview of a change in method of accounting for sale, lease, or financing transactions
- Treasury and IRS 2010-2011 Priority Guidance Plan: Year in review