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Home / News Stories / Federal reform would make firms pay taxes on unrealized income (access required)

Federal reform would make firms pay taxes on unrealized income (access required)

Many Virginia law firms would have to switch their accounting methods and pay taxes on income before the money actually is collected, if a proposed federal tax reform makes its way through Congress. The proposal – not yet incorporated in legislation – could force law firms with annual gross receipts of $10 million or more to ...

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