Washington, DC, November 20, 2024 – Miller & Chevalier Member George Hani and Tax Department Vice Chair Jim Gadwood have co-authored the second 2024 supplement for Federal Tax Accounting, originally authored by firm Senior Counsel Steve Gertzman and published by Warren, Gorham & Lamont (a Thomson Reuters company). Federal Tax Accounting is generally recognized as the leading authority on the topic and is used by many colleges, universities, and law schools. 

The newly released supplement includes new discussion of the recurring item exception to the economic performance requirement, whether the economic performance requirement applies to cost of goods sold, and the economic performance rules that apply to rebates, refunds, or similar payments. There is also new analysis of a recent Tax Court opinion involving a hotel loyalty program and a recent Internal Revenue Service (IRS) Chief Counsel Advice Memorandum analyzing credit card rewards.

Most exciting is an entirely new hard-copy format. For the first time in the treatise's history, the cumulative supplement has been fully integrated into the treatise's main text and the entire work has been perfect bound into a single volume. ''The new format brings our hard-copy users the same integrated reading experience our electronic users have had for years,'' the authors said. ''We're sure they'll find the new format more user-friendly.''

Further information about the treatise can be found here. 

About the Authors

George Hani is a Member of Miller & Chevalier Chartered and concentrates his practice on the resolution of tax controversies at the administrative level, with a particular focus on tax accounting issues. Prior to joining the firm, he was an Honors Attorney with the General Counsel's office at the U.S. Department of the Treasury. Mr. Hani is active with many bar associations, having served as the Chair of the Tax Section of the District of Columbia Bar, the Chair of the Administrative Practice Committee of the Taxation Section of the American Bar Association (ABA), and a Council Director of the Taxation Section of the ABA. He is a trustee of the Southern Federal Tax Institute, a member of the Advisory Board of the Texas Federal Tax Institute, and a Fellow of the American College of Tax Counsel. He is routinely recognized by Chambers USA, Legal 500, and the International Tax Review. He writes and speaks frequently on federal tax accounting topics.

Jim Gadwood is a Member of Miller & Chevalier Chartered and Vice Chair of the firm's Tax department. Mr. Gadwood's practice focuses on federal tax accounting, transfer pricing, and federal civil tax controversies, and he speaks and writes frequently on these topics. He is a member of the American College of Tax Counsel and currently a Vice Chair of the ABA Tax Section's Tax Accounting Committee. He earned his law degree from Boston University School of Law and a degree in economics from the University of Michigan.

About Miller & Chevalier 

Founded in 1920, Miller & Chevalier is a Washington, DC law firm with a global perspective and leading practices in Tax, International Law, Litigation, ERISA, White Collar Defense and Internal Investigations, Government Contracts, and Government Affairs. Miller & Chevalier is a top-ranked firm sharply focused on targeted areas that interact with the federal government. A significant number of firm lawyers have held senior positions in the U.S. government and have written many of the regulations they currently help clients navigate. For more information on the firm, visit www.millerchevalier.com.

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CONTACT: 

George Hani, ghani@milchev.com, 202-626-5953
Jim Gadwood, jgadwood@milchev.com, 202-626-1574
Pamela Munoz, Media Relations, Greentarget, 312-252-4115