Asset acquisition: practical guidance on Sec. 338 election.
California CPA › Vol. 73 Nbr. 7, January 2005
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Summary
PROFESSIONAL ISSUES
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Asset acquisition: practical guidance on Sec. 338 election.
The final regulations under Internal Revenue Code Sec. 338 certainly provide much desired clarity and guidance to tax practitioners. The main goal of these regulations was to change several accounting rules relating to deemed and actual asset acquisitions to enable them to be treated more in line with general principles under the tax law.
These Final Regulations have been in place for more than three years since they are to be applied to all qualified stock purchases or applicable asset acquisitions made after March 15, 2001. ...See the full content of this document
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