Question

Emerald Corporation is required to change its method of accounting for Federal income tax purposes. The change will require an adjustment to income to be made over three tax periods. Jonas, the sole shareholder of Emerald Corporation, wants to better understand the implications of this adjustment for E & P purposes, as he anticipates a distribution from Emerald in the current year. Prepare a memo for your firm's client files describing the results of your research.
Partial list of research aids:
§ 481(a).
Rev.Proc. 97-27, 1997-1 C.B. 680.


$1.99
Sales1
Views60
Comments0
  • CreatedSeptember 09, 2015
  • Files Included
Post your question
5000