Plain Language of Change:
- Single gross receipts test of $25 million is added for cash method, inventory, UNICAP, construction contract rules
- The average annual gross receipts amount of $25 million is adjusted for inflation for tax years beginning after December 31, 2018
Cordasco & Company PC is a boutique CPA firm specializing in federal and state tax issues. We provide customized tax and accounting services specifically designed to help our clients capitalize on the rapidly changing tax and accounting environments.