Friday, September 21, 2012

Navigating the Minefield of the Internal Revenue Code

The Federal Tax Code is riddled with landmines. These “traps for the unwary” are a major source of the complexity about which American businesses complain. One such trap is illustrated by a recent case involving the timing of Federal tax deductions for California state income taxes paid by Wells Fargo bank.
Accrual method taxpayers normally deduct [...]

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