WebJun 13, 2012 · Based on the forgoing, the IRS was faced with the following question: Does the liability to provide rebates become fixed and determinable when 1) customers purchase the goods from Taxpayer, 2) customers purchase the minimum amount of the goods necessary to “earn” a rebate, or 3), customers submit the required claim forms for … WebThe taxpayer offered more than a dozen bonus plans under which employees could be awarded cash bonuses. Under the plans, employee bonuses were calculated based on formulas that were largely driven by the attainment of various metrics at the company, sector, unit, and/or individual employee level. Some of the plans took into account the …
Fixed, Determinable, Annual, Periodical (FDAP) Income
WebFranchise deductible refers to a minimum amount of loss that must be incurred before insurance coverage applies. A franchise deductible differs from an ordinary deductible in … WebPayment is made on or before the earlier of the date the taxpayer files a timely tax return (including extensions) for the tax year the rebate liability is fixed and determinable or 8½ months after the close of that tax year; and The rebate liability is recurring in nature (Regs. Secs. 1.461-5 (b) (1) (ii), (b) (1) (iii), and (b) (3)). readysetrose
4.4 Subsequent measurement of foreign currency transactions
WebAn award based on a fixed dollar amount is a liability in accordance with ASC 480-10-25-14. Liability classification is also appropriate for an award that has several possible … Webdeterminable with reasonable accuracy in the taxable year (i.e., the second prong of both tests) is similarly interpreted for both tests. Under the section 461 all events test, in order … WebIn this situation, ABC ’s bonus liability is fixed at the end of the tax year because it will pay the aggregate amount of the bonuses. Also, the amount of the bonus liability is reasonably determinable on Dec. 31, 2013, because the amount is established through a formula or board resolution in place on that date. ... how to take print out of ttd tickets