When Is a Rebate Liability Fixed and Eligible for the Recurring-Item Exception
Article:
In recent guidance, the IRS has been scrutinizing the timing of the deduction of rebate payments (expenditures generally eligible for the recurring-item exception) and focusing on whether the related liability is actually fixed by year end and therefore eligible to be deducted even if paid within 8½ months of year
Published on January 28, 2011
Issues Under Proposed De Minimis Rule for Expensing Tangible Property
Article:
The IRS recently re-proposed regulations under Sec. 263(a) regarding the treatment of amounts paid to acquire, produce, or improve tangible property.
Published on May 12, 2010
Defining a Method of Accounting
Article:
An accounting method can be described as a regular practice for determining when to recognize items of income or expense in taxable income.
Published on May 14, 2010
Tax Practice and the Federal Criminal Code
Article:
Tax practitioners and taxpayers can be prosecuted for crimes under the criminal sections of the Internal Revenue Code and under the general criminal provisions in Title 18 of the U.S. Code.
Published on May 11, 2010
Revised Form 990 The Evolution of Governance and the Nonprofit World
Article:
The revised Form 990, Return of Organization Exempt from Income Tax, incorporates many of the same governance principles and transparency best practices introduced to the for-profit world through the Sarbanes-Oxley Act.
Published on January 28, 2011
A Review of the Revised Disciplinary Process Under Circular 230
Article:
Circular 230 outlines the duties and restrictions relating to practice before the IRS and the rules regarding disciplinary proceedings for violations. Final regulations issued in 2007 made many changes to Circular 230.
Published on May 10, 2010
FIN 48 Compliance Disclosing Tax Positions in an Age of Uncertainty
Article:
FIN 48 presents new challenges for taxpayers, auditors, and tax advisers. The disclosures required by the interaction of FAS 109 and FIN 48 will result in greater public disclosure of tax planning techniques, including the strengths and weaknesses of those techniques.
Published on May 10, 2010