Issues Associated with the Adoption of the Final Repair Regulations for LIFO Taxpayers

Final Repair Regulations for LIFO Taxpayers

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Taxpayers subject to the uniform capitalization rules that use the last-in, first-out ("LIFO") method of valuing inventories may face uncertainty and obstacles while adopting the final tangible property (or repair) regulations. This article describes hwo the repair regulations and the LIFO rules interact and considers some hurdles LIFO taxpayers may face. 

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