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TREAS/IRS | RIN: 1545-BM30 | Publication ID: Fall 2016 |
Title: Trade Discounts Received by Merchants | |
Abstract:
This NPRM contains proposed regulations that restate and clarify the rules for allocating trade discounts among purchases, ending inventory, and cost of goods sold because in recent years, much confusion and controversy have arisen regarding the proper treatment of various types of trade discounts that vendors pay to retail merchants. |
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Agency: Department of the Treasury(TREAS) | Priority: Substantive, Nonsignificant |
RIN Status: Previously published in the Unified Agenda | Agenda Stage of Rulemaking: Proposed Rule Stage |
Major: Undetermined | Unfunded Mandates: Undetermined |
CFR Citation: 26 CFR 1.471-3 | |
Legal Authority: 26 U.S.C. 7805 |
Legal Deadline:
None |
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Timetable:
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Additional Information: REG-121118-14 Drafting attorney: Edward C. Schwartz (202) 317-4740 Reviewing attorney: Roy A Hirschhorn (202) 317-7007 Treasury attorney: CC:ITA | |
Regulatory Flexibility Analysis Required: Undetermined | Government Levels Affected: Undetermined |
Federalism: Undetermined | |
Included in the Regulatory Plan: No | |
RIN Data Printed in the FR: No | |
Agency Contact: Edward C. Schwartz General Attorney (Tax) Department of the Treasury Internal Revenue Service 1111 Constitution Avenue NW., Room 4236, Washington, DC 20224 Phone:202 317-4740 Fax:855 576-2339 Email: edward.c.schwartz@irscounsel.treas.gov |