Quick Question: Tax Accounting for Parts Inventory
July 06, 2017
As part of the tax reform debate, Congress is considering changing inventory accounting rules and getting rid of the last-in, first-out (LIFO) method. Companies currently using LIFO could face significant retroactive tax liability. ARSA wants to get a sense of its members’ exposure in this area.
This “question” is now closed, but the association has not published the results. For more information, contact Brett Levanto (brett.levanto@arsa.org).
Click here to see what questions have been asked and answered…and keep a lookout for more.
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