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Tag Archives: Clarifies
UK Supreme Court clarifies issues on parent company liability in Lungowe v Vedanta
Summary This landmark judgment from the UK Supreme Court means that the claim brought by 1,826 Zambian villagers against UK-based Vedanta and its Zambian subsidiary KCM can proceed to a trial of the substantive issues in the English courts. One … Continue reading
FERC Clarifies Order No. 845’s Interconnection Reforms
On February 21, FERC issued an order on rehearing and clarification of Order No. 845, which was issued in April 2018, and reformed certain parts of the large generator interconnection rules. As we previously reported, the reforms of Order No. … Continue reading
FASB clarifies aspects of new leases standard
By Amy Leisinger, J.D. The Financial Accounting Standards Board has issued an Accounting Standards Update to address concerns raised by stakeholders in the transitional period leading up to implementation of FASB’s new leases standard. The ASU aligns the guidance for … Continue reading
Court Clarifies Inventory Capitalization Rules for Producers
There are a few items that are low hanging fruit that make for easy adjustments for IRS auditors. The adjustment for indirect costs is an example of such an adjustment that can be made for any taxpayer that has inventory. … Continue reading
Posted in Tax Law
Tagged Capitalization, Clarifies, Court, Inventory, Producers, Rules
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