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:
- Top Automatic Accounting Method Changes for 2011
- Medical IBNR/retiree prescription drug subsidy deduction sunsets in 2013
- IRS rules on applicability of third-party comparable exception to online software
- Charitable contribution carryover may reduce AMT NOL absorbed in a carryover year
- Floating gaming facility is classified as nonresidential real property
- Multiple buildings on rehabilitation site constitute single project
- Leasing of aircraft is a change in use for depreciation purposes
- Court holds adjusted basis of aircraft should not reflect impermissible depreciation deductions
