Sep 2009 Issue of Wine Business Monthly
Potential IRS Rule Change Could Cost Wineries The IRS is challenging an accounting inventory method long used by the wine industry that could result in higher overall tax rates in the long-term and also require some wineries to pay large tax bills for prior years. CPAs serving the wine industry, possibly joined by industry groups, are trying to work with the IRS to find a favorable industry-wide solution to the problem. As of press time, a series of meetings with individual CPAs or CPA firms a...
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