How does a taxpayer adopt an accounting method and a tax


Qusetion: How does a taxpayer "adopt" an accounting method and a tax accounting period?

Are pass-thru entities (i.e., partnerships & S corporations) prohibited from having a fiscal year? Explain.

If there are limitations preventing taxpayers from having fiscal year ends, list two ways taxpayers may overcome those limitations.

What is the definition of a personal service corporation? What restrictions on accounting periods are imposed on personal service corporations?

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Finance Basics: How does a taxpayer adopt an accounting method and a tax
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