The intention of this Instructions is to highlight issues that are specific to or have a large impact on the poultry industry. Most of the issues in this instructions relate directly to the major companies rather than the individual farmers. However, one chapter has been devoted to the issues usually found in conjunction with a poultry agriculturist audit. For much general issues concerning individual farmers, please refer to Uncle Sam's Tax Audit Assistant, Grain Farmers Edition.
TABLE OF CONTENTS
INTRODUCTION
Chapter 1 IRC SECTION 447
- Suspense Account
- Recapture Rules - Suspense Account
- Prior Law
- IRC section 481
- IRC section 447
- Gross Receipts Test
- Family Corporations
- Changes Ready made by Payer Relief Act of 1997
- Audit Techniques
CHAPTER 2 FARM Cost
- Technical Proposal Memo
- Market Conversion
- Market
- Inventories
- Garth
- Farm-Price Know how
- Farm Inventory
- Cost of Disposition
CHAPTER 3 UNIT Stock Cost
- Livestock
- IRC section 263A
- General
- Audit Techniques
CHAPTER 4 Postpaid FEED
- Revenue Ruling 79-229, 1979-2 C.B. 210
- Payment for Feed versus Deposit
- Payment for Feed versus Deposit
- IRC Section 464(f) Limitation
- Distortion of Financial gain
- Distortion of Financial gain
- Cash Basis Payer
- Case Scenario
- Case Law
- Business Intention versus Tax Turning away
- Business Intention or Tax Turning away
- Audit Techniques
CHAPTER 5 IRC SECTION 108 Financial gain FROM DISCHARGE OF Liability
- Reduction of Tax Attributes for Farmers
- Qualified Farm Liability
- Limitation
- Income from Discharge of Liability
- IRC section 108
- IRC section 1017
- Forgiveness of Stockholder Financial obligation
- Definition of Farming
- Acquisition of Financial obligation by Related Party
