This quarter’s Accounting Methods Spotlight features:
- Stipulated settlement reached on Section 199 software issue
- IRS, Treasury provide options on Section 163(j)(7) elections
- Accuracy-related penalty standards and procedures for penalty application updated
- Annual private letter ruling (PLR) and accounting method/accounting period change procedures issued
- Updates made to Form 4562 and instructions
- Comments requested on reporting fines and penalties on Form 1098-F