Covid-19 disrupted the global automotive supply chain and
many dealers may have significantly lower new car inventories at year end. This
might negatively impact LIFO reserves and result in additional income for
dealers using the LIFO accounting method for new vehicles.
Join Joe Magyar, Tax Partner at Crowe LLP, to understand the
factors that impact their LIFO reserve and strategies they may implement to
respond to significant potential LIFO recapture taxable income.