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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

    Erroneous LIFO Methodology

    Article A mistake made in a taxpayer’s LIFO computation may repeat in later year returns if staff preparing the computation take a “same as last year” approach. When the mistake ultimately is detected, there is a question...
    Published on May 12, 2010

    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...
    Published on January 28, 2011

    Dollar-Value LIFO Pooling for Automobile Resellers

    Article The IRS has provided automobile resellers the option to use an alternative dollar-value last-in, first-out (LIFO) pooling method
    Published on May 12, 2010

    Collateral Issues to Consider in Repair Regs. Accounting Method Changes

    Article Accounting method changes adopted under the repair regulations will, in certain cases, affect the computation of other deductions or credits allowed under the Internal Revenue Code.
    Published on May 31, 2013

    SEC Approves Early IFRS Adoption

    Article On August 27, 2008, the Securities and Exchange Commission (SEC) unanimously agreed on a series of steps that could lead to the required use of international financial reporting standards (IFRS) by U.S. issuers by 2014.
    Published on June 10, 2010

    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

    The Tax Adviser July 2013

    Publication Articles Using the First-Time Penalty Abatement Waiver Jim Buttonow Advising Clients Regarding Erroneous Tax Return Positions (Part II) Michael
    Published on September 16, 2013

    Getting to the IFRS Destination

    Article Are we there yet?
    Published on January 28, 2011

    Changing Corporations Accounting Methods

    Article A corporation that has adopted an accounting method cannot change that method simply by amending prior-year income tax returns; IRS permission is required to change methods.
    Published on January 21, 2011

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