Tag Archives: Accrual

Accrual Basis

Today TaxMama hears from Nunya in the TaxQuips Forum who was advised by an EA “that typically she prefers accrual, but I can’t really recall for sure or why.  She was giving a small [business] seminar.”

Interest-ing

Today TaxMama hears from IRS, who answered some questions for tax professionals: “My client received a balance due notice on their 2005 return? Why were they charged interest from 4/15/06 when the due date was extended to 4/17/06?”