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      • Year-End 2020 Dealer Tax Update
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Author Archive for: "Will De Filipps"
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By Will De Filipps
In Will's blog
Posted March 1, 2021

Section 473 Relief Request for DVM LIFO Taxpayers

Many dealers using the LIFO (Last-In, First-Out) Method for valuing their inventories are facing unexpected high tax bills this year. This is resulting from the combination of lower year-end [...]

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0
By Will De Filipps
In Will's blog
Posted November 19, 2020

Update on Tax Deductions Related to PPP Loan Forgiveness

Today, the IRS issued Revenue Ruling 2020-27 and Revenue Procedure 2020-51. Particular problems will arise in handling situations where it is expected that the PPP loan will be forgiven, but that [...]

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0
By Will De Filipps
In Will's blog
Posted November 19, 2020

Form 970 Draft

The IRS has posted a revision to Form 970 – Application to Use LIFO Inventory Method – in Draft form. The Draft is dated November 2020, and it is not to be filed with the IRS. Form 970 is to be [...]

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Seminars

Webinars

  • LIFO … Love It or Leave It … Covid-19 & LIFO Inventories (11/24/2020)
  • Year-End 2020 Dealer Tax Update (11/18/2020)
  • Year-End 2019 Dealer Tax Update (11/26/2019)
  • Provisions of Interest to Dealers in the TCJA (12/18/2018)

Member Resources

Return to Member Resource Center

News – Summaries & Podcasts

  • IRS GLAM re: Auto Dealer Facility Upgrade Programs (May 2014)
  • The Final Tangibles Regulations: Expense or Capitalize? … At a Glance
    • Are You Ready for TangiblesCare? – Practice Guide
    • WillCast – Tangibles Regs Podcast (9/18/2013)

Publications & Articles

  • Publications
  • Dealer Tax Watch Index of Articles
  • LIFO Lookout Index of Articles

Blog

Will’s World Blog

Willard De Filipps, CPA | Join Our LinkedIn Group
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