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Represent sum paid ahead of time under

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Reference no: EM131180487

Quiet Pastures Funeral Home, Inc is included in giving memorial service and offering related administrations. As of late, the clients of Peaceful Inc, has confronted financial challenges in paying for their bills for their chose merchandise and administrations. This has prompted lessened money related execution in the organization. Tranquil composed a project that permits clients to prepay for their memorial service products and administrations. The projects permit the clients to pay for their administrations ahead of time at a colossal markdown. Given that it is a collection premise citizen, the organization represented these installments and salary after the burial service administrations are given.

Issue:

The primary issue is whether the IRS ought to represent sum paid ahead of time under Peaceful project constitutes prepaid wage and along these lines, the prepaid sums are liable to tax assessment?

Reference no: EM131180487

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