Publication 538

Publication 538

A form published by the IRS explaining how accounting methods (such as cash accounting and accrual accounting) and calendars (such as the fiscal year and calendar year) affect the tax treatment of companies.
References in periodicals archive ?
See also section 448 of the Internal Revenue Code; Notice 2001-76 in Internal Revenue Bulletin 2001-52; and IRS Publication 538, Accounting Periods and Methods.
Even the IRS seems to treat it both ways: In Publication 538, Accounting Periods and Methods, it seems to view economic performance as separate from the all-events test, whereas in CCA 200834019 it treats economic performance as a third prong in the all-events test.
For additional information, refer to the chapter on Cost of Goods Sold in IRS Publication 334--Tax Guide for Small Businesses, and to the chapter on Inventories in IRS Publication 538 Accounting Periods and Methods.