IRC §471(a) Archives

IRS Updates Small Business Accounting Method Regulations

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