Why irs might be skeptical of permitting requests for change

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1. Describe why the IRS might be skeptical of permitting requests for changes in accounting method without a good business purpose.

2. What is a $481 adjustment and what is its purpose?

3. Manny hired his brother's firm to provide accounting services to his business. During the current year, Manny paid his brother's firm $82,000 for services even though other firms were willing to provide the same services for $40,000. How much of this expenditure, if any, is deductible as an ordinary and necessary business expenditure?

Reference no: EM13906217

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