The U.S. IRS has released the following international practice units, which have been updated, including in relation to changes introduced by the Tax Cuts and Jobs Act:
- Interest Capitalization for Self-Constructed Assets, which discusses interest capitalization requirements under IRC 263A(f) and covers the steps involved in determining how much interest must be capitalized to the basis of designated property;
- Land Developers and Subcontractors - Proper Method of Accounting, which discusses…