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Accounting Methods Spotlight Q2 2024

June 2024

This quarter’s Accounting Methods Spotlight newsletter features:

  • Regulations proposed on interest capitalization involving property upgrades
  • Limited waivers provide relief for CAMT estimated tax penalties
  • Section 179D commercial building reference standard updated
  • IRS provides 2024 low-income community credit bonus procedures and category reservations
  • Initial guidance issued on clean fuel production credit
  • List of areas eligible for energy tax credit bonus is updated
  • IRS provides inflation adjustment for carbon sequestration credit
  • Energy efficiency rebates treated as taxable income for businesses, not homeowners
  • Tax Court affirmed by Ninth Circuit on revenue recognition under Section 451  
  • User fee for nonautomatic accounting method changes clarified  
  • New practice unit released on valuation of inventory

Download the PDF Accounting Methods Spotlight Q2 2024

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Ed Geils

Ed Geils

Global and US Tax Knowledge Management Leader, PwC US

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