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    LIFO Inventory Considerations When Making a C-to-S Conversion

    Article A taxpayer valuing its inventory under the last-in, first-out (LIFO) method should consider two significant implications for taxable income when converting from a C corporation to an S corporation
    Published on June 30, 2013

    IRS Issues Prop. Regs. on Retail-Inventory Method

    Article Taxpayers using the retail-inventory method should review their calculations to determine if they are currently reducing both the numerator of the cost-complement ratio and the retail selling price of ending inventory for...
    Published on March 18, 2013

    Proposed Regs. Relating to the Retail-Inventory Method

    Article The IRS issued proposed regulations relating to the retail-inventory method of accounting
    Published on August 24, 2012

    A Little-Known Tax Benefit The Gift of Inventory

    Article Tax incentives are available for contributions of inventory for the care of the ill, needy, or infants, but many taxpayers may be unaware of them. This item outlines the current rules for an increased deduction and analyzes...
    Published on January 28, 2011

    The Challenge of Contributing Off-Spec Food to Charity

    Article Donations of “off-spec” food may not result in a charitable contribution deduction greater than the tax basis of the food inventory because of the difficulty of determining the proper tax basis and FMV for the food
    Published on February 28, 2013

    Must LIFO Go to Make Way for IFRS

    Article Currently, IFRS do not allow for the use of the LIFO inventory method, jeopardizing its use for U.S. tax purposes due to the LIFO conformity requirement in Sec. 472. The disallowance of the use of LIFO for tax purposes would...
    Published on January 28, 2011

    Prop. Regs. Address Carryover of Accounting Methods Under Sec. 381

    Article In order to resolve confusion with respect to accounting and inventory methods to be used after corporate reorganizations or liquidations, the IRS issued proposed regulations in November 2007 (REG-151884-03
    Published on June 01, 2010

    IRS Issues Fifth Directive on the Allocation of Mixed Service Costs

    Article The IRS has been scrutinizing how taxpayers have allocated mixed service costs to self-constructed assets under Sec. 263A.
    Published on January 28, 2011

    New Subpart F Regs. Address Manufacturing Exception and Branch Rules

    Article ...the treatment of contract manufacturing arrangements and the branch rules applicable to foreign base company sales income (FBCSI), a type of subpart F income applicable to the sale of inventory
    Published on January 28, 2011

    Prop. Regs. on Sales-Based Royalties and Vendor Allowances

    Article The IRS issued much-anticipated proposed regulations on the capitalization and allocation of sales-based royalties and on adjustments to the cost of merchandise inventory for sales-based vendor allowances
    Published on June 16, 2011

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