Accounting Methods Spotlight Q4 2020

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December 2020


This quarter’s Accounting Methods Spotlight newsletter features:

  • IRS and Treasury issue 2020-2021 Priority Guidance Plan
  • Regulations under Sections 274 and 1031 finalized
  • Additional bonus depreciation guidance issued
  • Guidance issued on tax consequences relating to Paycheck Protection Program
  • Notice 2020-75 announces intention to issue additional Section 164 guidance for partnerships and S corporations
  • PLR holds payments are purchase price adjustments
  • Section 199A instructions provide helpful guidance
  • IRS issues examination guidance on settlements and judgments
  • LB&I issues Section 263A practice guides
  • FTS/AMS Insights published in Q4 2020.

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Christine Turgeon

Partner, Federal Tax Services Leader, PwC US

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