Inventory is an asset held by a business for sale, and it adds to the total capital of a business. The control of your inventory is an important aspect of managing the finances of a business.

For the second time in a week, a federal circuit court of appeals has handed the IRS a defeat on the issue of whether an overstatement of basis amounts to an omission from gross income for purposes of ...

In the business world, inventory plays a vital role in success and can impact financial statements. If the ending inventory is incorrect, it can impact many different areas of your business and ...

In Home Concrete & Supply LLC v. United States, Supreme Court Docket No. 11-139 (April 25, 2012), the U.S. Supreme Court stepped in to resolve a hotly contested dispute as to whether an overstatement ...

The IRS on Wednesday released final regulations defining an omission from gross income for purposes of the six-year minimum period for assessment of tax attributable to partnership items and the ...