Tag Archive: IRC 263A

IRS increases audit activity with auto dealerships

Written by August 29, 2012

The IRS has recently announced in a field memorandum that it will be stepping up its audit activity with auto dealerships with respect to inventory issues. The issue here is that under the law resellers of tangible personal property with annual average sales of $10 million or more are required to capitalize a portion of their overhead under Section 163A...

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