June 2012 issue

Accounting Methods Spotlight

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:

  • Government officials provide updates at May ABA meeting
  • Sales at prices below acquisition cost satisfy all-events test
  • Taxpayer not required to recognize gain on installment notes until disposition
  • Cellular antenna towers classified as 15-year property
  • Property used outside the United States not treated as used predominantly outside the United States under §168(g)(4)
  • Like-kind exchanges between related parties qualify for nonrecognition of gain treatment
  • Like-kind exchange treatment granted, accuracy penalties imposed
  • Bad debt deduction denied, deficiency determination upheld


Accounting Methods Spotlight archive