IRS practice units: Modified simplified production method; costs for UNICAP purposes
IRS practice units: Costs for UNICAP purposes
The IRS Large Business and International (LB&I) division today publicly released two “practice units”—part of a series of IRS examiner “job aides” and training materials intended to describe for IRS agents leading practices about tax concepts in general and specific types of transactions.
The topics of today’s “concept units” (as referred to by the IRS) are:
- Modified simplified production method
- Alternative method for determining section 471 costs for uniform capitalization (UNICAP) purposes
Read the practice units on the IRS practice unit webpage (posting date of December 4, 2020).
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