Feature Article 
Small Business Inventory Rules Under the Tax Cuts and Jobs Act
The Tax Cuts and Jobs Act (TCJA) made a significant change to the rules for eligible small business taxpayers that were previously required to maintain inventories and utilize the accrual method of account... Patrick D. Dimmitt
Winter 2023,
Feature Article,
TCJA, Tax Cuts and Jobs Act, s corporation, Schedule C, NIMS, §274, inventory, Form 3115, §471(c), §1.471-1(b), §52(a), §52(b), §414(m), §414(o), nonincidental materials and supplies, applicable financial statement, AFS, §1.162-3, first-in, first-out, FIFO, §461, §1.451-3(a)(5), U.S. Securities and Exchange Commission, SEC, Form 10-K, Financial Industry Regulatory Authority, §1.446-1(c)(2), §5.01(1)(f), §22.18(6)(b), Rev. Proc. 2015-13, §22.18(6)(a), designated automatic accounting change number, DCN, §22.18(17), Rev. Proc. 2023-15