This quarter's Accounting Methods Spotlight discusses important IRS guidance and other developments.
- IRS official highlights plans to issue regulations on capitalized transaction costs
- Revenue procedures provide safe harbors for treatment of PPP loan forgiveness
- IRS provides additional guidance on temporary 100% deduction for restaurant meals
- IRS field advice discusses research credit refund claim substantiation
- Taxpayer denied permission to revoke Section 59(e) election
- CCA summarizes conduit principles
- LB&I issues practice units on UNICAP computation for resellers, the BEAT, and interest on installment sale deferred tax liability