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Discuss the requirements for the tax year-end and accounting methods that may be required/adopted by Partnerships.

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Accounting

Discuss the requirements for the tax year-end and accountingmethods that may be required/adopted by Partnerships.

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A required tax year refers to a tax year which is required under the income tax regulations and Internal Revenue Code Partnerships personal service corporations PSC and S corporations have to use a required tax year If an entity does not have to use the required tax year then should seek an approval from IRS to use another permitted year    See Answer
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