Tax Accounting (Methods & Periods)

Taxpayer Wins Big in Transfer-Pricing Dispute

The Tax Court held that the IRS had abused its discretion in reallocating income related to intercompany licenses for the intangible property to manufacture medical devices from a Puerto Rican company to its U.S. parent company.

Potential Expiration Is Not an Event

A grocery store/gasoline retailer could take a deduction for discounts on gasoline purchases that the store’s customers had accrued but not yet taken at the end of the year.

FASAB Seeks Transparency on Tax Expenditures

The Federal Accounting Standards Advisory Board proposed a standard with the intention of providing the public more information about the U.S. government’s tax expenditures.

How Internet Domain Names Are Taxed

The IRS determined that the costs of acquiring domain names are to be capitalized as intangible assets and amortized over a 15-year period.

Newsletter Articles

PRACTICE MANAGEMENT

Tax software survey

Our annual survey offers a look at how CPAs judged their tax preparation software in a wide range of types of practices.

NEWS

Congress enacts tax reform

Here are many of the most important provisions in the new law that affect both individual taxpayers and businesses. All changes were effective Jan. 1, 2018, except as noted.