State income tax carryback refund claims usually are not accruable.: An article from: The Tax Adviser | Claim Tax Refund

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This digital document is an article from The Tax Adviser, published by American Institute of CPA’s on January 1, 1994. The length of the article is 418 words. The page length shown above is based on a typical 300-word page. The article is delivered in HTML format and is available in your Amazon.com Digital Locker immediately after purchase. You can view it with any web browser.

From the supplier: The Tax Court ruled that the IRS was unjustified in requiring a corporate taxpayer to claim deductions for a state net operating loss carryback on the accrual method. The accrual method would require the taxpayer to include the loss in the year of the loss even though the deduction had not yet been allowed by the state. The Tax Court ruled that the taxpayer need not report the loss until the year the refund is actually received, even if the taxpayer is otherwise on the accrual method.

Citation Details
Title: State income tax carryback refund claims usually are not accruable.
Author: Gail W. Sevier
Publication: The Tax Adviser (Magazine/Journal)
Date: January 1, 1994
Publisher: American Institute of CPA’s
Volume: 25 Issue: n1 Page: 31(2)

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