TAXES Archive

Interruption of LIFO inventories due to COVID-19 and Sec. 473 relief

TweetShareSharePin0 Shares A company with last-in-first-out (LIFO) inventory that experiences a decrease in LIFO inventory would typically have additional taxable income related to the LIFO decrement. A LIFO decrement is the excess of the prior-period ending inventory minus the current-period ending inventory. Decrements result in a reduction of increments or layers created in earlier years.


TweetShareSharePin0 Shares Posted by elgsa73 on 2017-09-29 13:42:30 Tagged: , Tax , höstlöv TweetShareSharePin0 Shares


TweetShareSharePin0 Shares Posted by elgsa73 on 2018-02-16 10:04:10 Tagged: , dog , tax , hund TweetShareSharePin0 Shares

The Effect of the Missing Postmark

TweetShareSharePin0 Shares In an opinion issued by the CFC in a refund case, McCaffery v. United States, No. 1:19-cv-01112 (Ct. Fed. Cl. 2021), the issue was whether the taxpayer could introduce extrinsic evidence of the mailing of a refund claim where the claim arrived at the IRS just after the filing deadline, but the envelope


TweetShareSharePin0 Shares Posted by v.analretentive on 2011-04-14 05:37:20 Tagged: , comics , frostovision , webcomics , frost , taxes TweetShareSharePin0 Shares
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