The U.S. IRS recently released updated practice units on the Producer's 263A Computation and Examining a Reseller's 263A Computation. The process overviews of the practice units includes the following:
Producer's 263A Computation
Note: This Practice Unit supersedes the previously published Practice Unit with the same title published on December 14, 2020. The Practice Unit was updated to delete the law regarding pre-enactment and post-enactment rules for purposes of identifying section 4…