New IRS and Court rulings provide guidance on tax accounting method issues

February 2014


This month’s Accounting Methods Spotlight highlights important guidance for helping taxpayers implement the final tangible property ‘repair’ regulations, as well as welcomed clarity from the IRS on the treatment of milestone payments. This  issue also includes rulings on: Section 9100 relief for an extension of time to file the mandatory statement for the safe harbor allocation method for success based fees;  deduction of construction support payments;  proposed IRS adjustments that were determined to constitute a change in method of accounting; and depreciation classification of certain interior, non-load bearing partitions. In addition, this month's issue discusses a case in which a divided Tax Court allowed a deduction for premiums paid to a captive insurance company.

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