The tangible property regulations: tackling the implementation issues
After spending the past few months digesting the broad scope of the new temporary tangible property regulations, taxpayers are now focused on how to implement and comply with the new rules. On 7 March, the IRS issued two revenue procedures outlining automatic method change procedures for the regulations. The revenue procedures provide additional guidance and possible simplification for taxpayers as they contemplate the challenges of compliance, evaluate planning opportunities and implement the regulations for the 2012 tax year.
Please join us for a 90-minute webcast on Friday, 23 March at 2:00 p.m. EDT as our panel of Ernst & Young LLP professionals discusses these new procedures, the impact on your company, common questions and recommendations for implementation. Topics covered will include:
- Overview of primary focus points for the treatment of materials and supplies, the book de minimis rule, dispositions and improvements
- Overview of Revenue Procedures 2012-19 and 2012-20
- Strategies to comply with the rules including the use of statistical sampling
- Business process changes
- IRS examination considerations
- Financial statement implications
George Blaine, Ernst & Young LLP, Accounting Methods and Inventory, Washington, D.C.
Angela Evans, Ernst & Young LLP, Tax Accounting and Risk Advisory Services, Atlanta, GA
Susan Grais, Ernst & Young LLP, Accounting Methods and Inventory, Washington, D.C.
Jeremy Watkins, Ernst & Young LLP, Accounting Methods and Inventory, Atlanta, GA
Ed Cohen, Ernst & Young LLP, Quantitative Economics and Statistics, New York, NY
Mark Mesler, Ernst & Young LLP, Tax Controversy and Risk Management Services, Atlanta, GA
Alison Jones, Ernst & Young LLP, Accounting Methods and Inventory, Washington, D.C.