IRS Issues Practice Unit on Producer’s UNICAP Calculations

IRS Issues Practice Unit on Producer’s UNICAP Calculations

Internal Revenue Service

The IRS has released a practice unit addressing the application of the uniform capitalization of costs under section 263A for a taxpayer who is a producer and suggesting audit techniques when examining a producer’s section 263A computation. 

The IRS has released a practice unit addressing the application of the uniform capitalization of costs under section 263A for a taxpayer who is a producer and suggesting audit techniques when examining a producer’s section 263A computation.

The IRS has released a practice unit addressing the application of the uniform capitalization (UNICAP) of costs under section 263A for a taxpayer who is a producer and suggesting audit techniques when examining a producer’s section 263A computation.  The unit focuses on the simplified production method. Definitions and methods in final section 263A regulations that are effective November 20, 2018, will be covered in a separate practice unit.

The IRS has released a practice unit addressing the application of the uniform capitalization (UNICAP) of costs under section 263A for a taxpayer who is a producer and suggesting audit techniques when examining a producer’s section 263A computation.  The unit focuses on the simplified production method. Definitions and methods in final section 263A regulations that are effective November 20, 2018, will be covered in a separate practice unit.