Publ 3106

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Publ 3106

A brochure published by the IRS outlining information for gas station owners on the tax treatment of payments made for improving the image of a gas station.

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IRS Publication 3106 outlines how payments received under an "image upgrade program" can be treated as a nontaxable loan.

Although Publication 3106 deals specifically with an image upgrade program, there seems to be no reason CPAs cannot suggest that advances for other purposes, such as cooperative advertising, also could be structured as loans.

* IRS Publication 3106, Overview of Imaging Reimbursement Program, www.irs.gov/pub/irspdf/p3106.pdf.

* Although Publication 3106 deals specifically with an image upgrade program, consider structuring advances for other purposes, such as cooperative advertising, as loans.

Pay now or defer: no income deferral if services are involved

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