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(Solved) (Latest ver. Aug 2020) - Memo for CFO Indicating Outcome of Tax Changes

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JIM currently uses the calendar year as its financial and tax annual accounting period. Because of the seasonality of sales, management wants to change to a fiscal year beginning April 1st through March 31st. You have been asked to review the tax law criteria for making this change.

Write a memo to your CFO:
- indicating the outcome of such a change on current taxes, and
- outlining the requirements for making this change.


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This question was answered on: Sep 16, 2020

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