Accounting Methods Spotlight Q3 2020

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September 2020


This quarter’s Accounting Methods Spotlight newsletter features:

  • IRS issues temporary procedures to facilitate filing Form 3115
  • More bonus depreciation regulations finalized
  • Final and proposed regulations issued under Section 163(j)
  • Proposed regulations implement small business taxpayer provisions
  • Charitable contribution to state funds final regulations published
  • Regulations on BEAT deduction waiver finalized
  • Final regulations on nuclear decommissioning costs issued
  • IRS and Treasury to issue proposed regulations on QIP adjusted basis for GILTI and FDII
  • Revenue procedure addresses public utility normalization method of accounting
  • PLR holds that payment to fund creates Section 197 intangible
  • GLAM under Section 199 concludes use of software was not a disposition
  • Tax Court reversed on whether state grants to businesses qualify under Section 118
  • Tax Court affirmed on application of origin of claim doctrine to discharge of indebtedness income
  • LB&I announces success-based fee compliance campaign
  • LB&I issues accounting method practice guides
  • FTS/AMS Insights published In Q3 2020

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Christine Turgeon

Partner, Federal Tax Services Leader, PwC US

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