Final regulations issued under the uniform capitalization (UNICAP) rules adopt a new simplified method (the “modified simplified production method”) for determining additional Code Sec. 263A costs allocable to property produced by a taxpayer or acquired for resale (T.D. 9843). This method is in addition to the current simplified methods. The manner in which certain costs […]
The post UNICAP Regs Finalize Modified Simplified Production Method, Treatment of Negative Adjustments, Section 471 Costs; Accounting Method Change Rules Provided (T.D. 9843; Rev. Proc. 2018-56) appeared first on Tax & Accounting Blog.