Recently, I received a call from a CPA firm whose client had incorrectly handled a retroactive cost segregation study. In this case, their team did not realize they had to file a Form 3115 in order to ...
Self Employed on MSN
Bonus Depreciation Phase-Down Reshapes Tax Planning
The post Bonus Depreciation Phase-Down Reshapes Tax Planning appeared first on Self Employed.
The Coronavirus Aid, Relief, and Economic Security Act (the “CARES Act”) was signed into law on March 27, 2020. Section 2307 of the CARES Act provides a technical correction to Public Law 115-97, ...
IRC section 446(e) requires that a taxpayer secure IRS consent to change its method of accounting. Treasury regulations section 1.446-1(e)(2)(i) specifies that a taxpayer do this before computing its ...
Recently released Revenue Procedure 2021-26 (the Revenue Procedure) provides taxpayers with guidance regarding accounting method changes made on behalf of foreign corporations. The Revenue Procedure: ...
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