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:
- 9100 relief may be required for success-based fee safe harbor election
- Changes in book methods of accounting may give rise to changes in method for tax
- State law property classifications not determinative for whether property is like kind
- Taxpayer was securities dealer, may have made unauthorized accounting change
- IRS grants taxpayer permission to use alternative method of basis recovery
