This week we look at the following items:
- Taxpayer had to include son’s savings account in determination of solvency
- 2019 HRA amounts announced by the IRS
- IRS changes Section 382 recognized built-in gain/loss safe harbors due to changes made by TCJA
- Revenue procedure issued to deal with requests to change accounting methods due to ASC 606 adoption for financial statements
- General automatic method change revenue procedure annual update published by IRS
- Taxpayer found to have no asset to sell and, due to that, income was ordinary and not capital in nature
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