Many businesses have special tax concerns that are unique to their industry. The general rules in the Tax Code can have unintended consequences. To respond to these problems, the IRS created the Industry Issue Resolution (IIR) program.
The IIR program examined a tax problem that heavy equipment dealers were experiencing and recommended some changes. As a result, the IRS has enacted a safe harbor for heavy equipment dealers that use the replacement cost method when calculating the cost of their inventory.
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