A mistake made in a taxpayer’s last-in, first-out (LIFO) computation may repeat in later-year returns if staff preparing the computation take a “same as last year” approach. When the mistake ...

The esoterica of tax accounting isn't terribly exciting. In fact, it can be downright headache-inducing for those of us who aren't CPAs. However, when your cash flow is in danger of taking a big hit ...