Category: Updates

Are rebates illegal?
updates
Are rebates illegal?

A rebate is a discount or reduction on a sale price. It is often used as a marketing strategy to promote sales. When secretly accepted by a subcontractor ...

What is revenue code 130?
updates
What is revenue code 130?

013X – Semi-private – three and Four Beds (Medical or General) What is a qualified funding asset? (d) Qualified funding assetFor purposes of this section,...

Can a PSC carryback an NOL?
updates
Can a PSC carryback an NOL?

Personal service corporations ( PSC ) cannot carry back a NOL to any year in which the PSC opted out of using a required year under IRC §444. A corporate ...