- The IRS clarifies its position on combining manufactured and purchased goods in the same pool.
- If you are a calendar-year taxpayer who hasn’t filed your 2015 federal income tax return and you want an automatic accounting method change for the year, you have until September 15, 2016, to do so.
- A thorough review and an accounting method change recommendation by Baker Tilly helped our client reduce its inventory UNICAP adjustment by one third with the potential for further savings.
- New accounting standards mean taxpayers in a variety of industries will face significant changes in how their revenue is recognized.
- Taxpayers eligible for the favorable exception of changing their method of accounting during the “three-month window” need to know that period starts July 15, 2016.