Tax News Briefs
IRS Updates Small Business Accounting Method Regulations
The Internal Revenue Service (IRS) has issued final regulations to implement the changes to the accounting method rules made by the Tax Cuts and Jobs Act (TCJA). Under Internal Revenue Code (IRC) §448(c), a business with gross receipts under $25 m... TheTaxBook
Mar/Apr 2021,
Tax News Briefs,
IRC §471(c),
TCJA,
IRC §471(a),
s corporation,
IRC §263A,
c corporation,
IRC §448,
partnership,
IRC §460,
IRC §471,
UNICAP,
NIMS,
Schedule K-1,
IRS Notice 2020-75