An article from the accounting firm Crowe, Considerations for Dealers Facing Significant LIFO Recapture, provides a summary of considerations for dealers who use the Last-In, First-Out (LIFO) accounting method for their new vehicle inventories and may be facing the possibility of significant LIFO Recapture due to reduced inventory levels, which can result in significant income tax liability. Crowe will also address this topic in an NADA webinar that is scheduled for Thursday, December 9 at 1pm EST. Click here to register.

Jeff Weber
Chairman, Regulatory Affairs Committee