On August, 15, 2020, the Internal Revenue Service (IRS) issued PLR 202033002, in which it addressed whether cost of removal (COR) is “protected” by the normalization rules of section 168(i)(9). COR is ...
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 ...
"The accounting industry's debate over 'gross method vs net method' in revenue recognition stems from differing views on accounting treatment, and perspectives vary depending on interpretation.
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