Tax Court Clarifies the All-Events Test for Prepaid and Accrued Liabilities

Tax Court recently held that an accrual-method corporation was not permitted to change its method of accounting to accelerate the timing of various deductions because it failed to satisfy the requirements of the all-events test.

Source: http://feedproxy.google.com/~r/AICPA_TaxAdvisor/~3/_M-phqRGU1I/clinic-story-13.aspx

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