August 2013 issue

Accounting Methods Spotlight

In this month’s Accounting Methods Spotlight, taxpayers are given timely insight into key accounting method considerations for 2012 returns. This issue also discusses issues raised by the AICPA regarding application of final regulations on accounting method changes following some reorganizations, as well as a recent LB&I memorandum on information document requests. In addition, this month's issue provides updates on a range of federal income tax matters including: whether a former parent or its subsidiary is entitled to an ordinary deduction, whether curtailment of a project affects placed-in-service date, whether a solar project property should be treated as used predominantly outside United States, and whether a Form 3115 was the proper method for making a Section 469(c)(7) election. Furthermore, this month's issue discuss a recent petition challenging the IRS' disallowance of a Section 199 deduction, a court decision distinguishing between manufacturing and packaging activities for Section 199, as well as a decision that a taxpayer could not change its original purchase price allocation in order to obtain more favorable depreciation deductions.

Accounting Methods Spotlight archive