September 2013

September 2013

Overview

In this month’s Accounting Methods Spotlight our readers receive brief highlights on the recently released final tangible property ‘repair’ regulations, the refundable AMT credit, and the 2013-2014 IRS Priority Guidance Plan. This month's issue also discusses a recent industry director directive on the Section 199 ‘benefits and burdens’ test, IRS' Action on Decision not to acquiesce in a Tax Court ruling on forbearance payments, a field attorney advice on the abandonment loss deduction, and a revenue procedure clarifying income deferral rules for gift cards. In addition, this month's issue takes a look at a court decision on whether there was a transfer of goodwill in a radio station like-kind exchange and a taxpayer's petition to the Tax Court for redetermination of a tax deficiency related to the issuance of warrants.

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