“Ivins, Phillips & Barker has developed nationally-recognized expertise in tax accounting issues”

- Chambers & Partners

Tax Accounting

Tax accounting is normally thought to be solely within the province of the accounting firms. At Ivins, Phillips & Barker, however, our attorneys have developed a nationally-recognized expertise in this area.

The treatment of inventories, particularly dollar-value LIFO and the uniform capitalization method, is at the top of the list of subjects to which our tax accounting lawyers devote significant time. Our inventory work ranges from planning and consulting on the design and establishment of particular cost accounting systems as they affect tax compliance to controversy work with the IRS in tax audits and litigation.

Additional major areas of our tax accounting practice include issues relating to income and expense accruals and economic performance, accounting for long-term contracts (both government and non-government), accounting for other types of contracts, such as service contracts and non-long-term hardware contracts, application of section 199 regarding the deduction for domestic production activities, accounting for R&D costs, capitalization versus deduction issues, the tax problems associated with financial products, and the handling of accounting method changes. We have extensive experience in dealing with the National Office of the IRS on such matters as well as in representing clients in the IRS Appeals Office in connection with such matters.

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