Learn how accounting cushions help companies smooth earnings and achieve financial stability by overstating expenses and ...

The IRS often determines upon audit that a business has over a period of years failed to report properly items of income or expense. In that case, the ability of the government to assert additional ...

The IRS has issued new guidance on automatic accounting method changes. Revenue Procedure 2009-39 provides certain additions, modifications and clarifications to Revenue Procedures 2008-52 and 97-27 ...

Editor’s Note: Under the 2017 tax reform legislation, if the taxpayer uses the accrual method of accounting, the “all events test” with respect to any item of income is not treated as met any later ...

Discover how accruals affect company finances, with insights into the accrual accounting method, its applications, and ...

The article discusses 'Continuing Life Communities Thousand Oaks, LLC v. Commissioner', a recent decision of the Tax Court that rejected an IRS effort to change the method of accounting followed by a ...

The IRS issued new procedures taxpayers should use to make accounting method changes. Rev. Proc. 2015-13 contains the rules taxpayers should follow to make nonautomatic changes in methods of ...

Many contractors can build better cash flow using accounting options that until passage of the Tax Cuts and Jobs Act (TCJA) were unavailable to them. Nevertheless, there remains a surprising number of ...