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Repair Regulations & Cash Basis Inventory Rules

  • 21 Feb 2024
  • 5:30 PM - 7:30 PM
  • Zoom


Repair Regulations & Cash Basis Inventory Rules

With: Patrick Dimmit

When: Wednesday, February 21, 2024 From 5:30PM-7:30PM

Where:  Zoom

The Tax Cuts and Jobs Act significantly expanded the relief available to small business taxpayers in accounting for inventories. In this session, we will discuss the small business inventory rules enacted as IRC § 471(c) and the implementing regulations that became effective for calendar year 2022 returns. We will also review the tangible personal property regulations with an emphasis on the de minimis elections and the safe harbors for routine maintenance costs. Two IRS CPE credits will be earned for those who attend and answer all polling questions. 

*Please Note, if you have signed up for the MaSEA CE Special, you will automatically be added to this event and receive a confirmation prior to the event. This course is non-refundable and will not be recorded. Please plan accordingly.*

*MaSEA members, please use the email address that was used to create your NAEA membership to ensure that you receive the membership discounted price.*

About Our Speaker

Patrick D. Dimmit retired from the Large Business & International operating division of the Internal Revenue Service as a case manager afer more than 38 years with the agency. He received his Master of Science in Taxation from Indiana University in Indianapolis, where has taught graduate courses in partnership and state and local taxation.

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