Information For...

For you and your family
Standard mileage and other information

Forms and Instructions

Individual Tax Return
Instructions for Form 1040
Request for Taxpayer Identification Number (TIN) and Certification
Request for Transcript of Tax Return

 

Employee's Withholding Allowance Certificate
Employer's Quarterly Federal Tax Return
Employers engaged in a trade or business who pay compensation
Installment Agreement Request

Popular For Tax Pros

Amend/Fix Return
Apply for Power of Attorney
Apply for an ITIN
Rules Governing Practice before IRS

Cut-Off Dates on Transactions and Inventories

Reporting Carrier Tickets in ExSTARS

When a pipeline or barge delivery carries over two days, the carrier makes two tickets but the terminal only makes one ticket. Both ticket numbers issued by the carrier should be used on the terminal operator report to report two receipts to ExSTARS.

Reporting Cut-Off Dates in ExSTARS

If your company does not measure month end inventories at midnight on the last day of the month, but makes a business practice is to take inventories at 7:00 a.m. on the first day of the month, your company must maintain a consistent cut-off reporting policy.

As long as the terminal operator maintains a consistent cut-off reporting policy ExSTARS will not generate an exception. Receipts and deliveries occurring after midnight can still be reported in the correct calendar month, with a corresponding offset in the gain or loss. For example, if an 8,000 gallon disbursement occurs after midnight on December 31st but inventory is taken at 7:00 a.m. on January 1st, the 8,000 gallon disbursement should be treated as a loss in December and a gain in January. Timing differences will be monitored over time by ExSTARS.


Rate the Small Business and Self-Employed Website

Related Topic