LIFO conformity violation relief for auto dealers. (last-in-first-out inventory method): An article from: The Tax Adviser

This digital document is an article from The Tax Adviser, published by American Institute of CPA's on April 1, 1998. The length of the article is 1575 words. The page length shown above is based on a typical 300-word page. The article is delivered in HTML format and is available in your Amazon.com Digital Locker immediately after purchase. You can view it with any web browser.

From the supplier: The IRS issued guidance in 1997 helping franchisee automobile dealers to assess potential last-in-first-out (LIFO) financial statement violations and availability of relief under certain circumstances in Revenue Ruling 97-42 and Revenue Procedure 97-44. Relief is available for franchisees which used franchisor-mandated formats or forms for tax years ending Oct 14, 1997 or before. All other statements must conform to IRC section 472 and the guidance.

Citation Details
Title: LIFO conformity violation relief for auto dealers. (last-in-first-out inventory method)
Author: Michelle R. Koroghlanian
Publication:The Tax Adviser (Magazine/Journal)
Date: April 1, 1998
Publisher: American Institute of CPA's
Volume: 29 Issue: n4 Page: 206(3)

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