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Home builder wins IRS accounting dispute in US tax court

from Reuters

A California home builder has prevailed in U.S. tax court in a case involving an accounting method that could help builders and developers defer taxes, industry experts said. Handing a defeat to the Internal Revenue Service, the court ruled that Shea Homes LP could defer payment of taxes on home sales until 95 percent of the homes in its huge, gated-community developments were sold. more


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