About | HeinOnline Law Journal Library | HeinOnline Law Journal Library | HeinOnline
LOG IN
LOG IN

B-167459 1 (1978-02-23)

handle is hein.gao/gaobadtgt0001 and id is 1 raw text is: 865 COMPTROLLER GENERAL OF THE UNITED STATES WASHINGTON, D.C. 20548 B-167459 FEB 2 3 1978 Mr. Thomas .G. Cassidy •Chairman, ASPR Committee Office -of the Assistant 'Secretary of Defense Department .of Defense Dear Mr. Cassidyi By letter dated September 2.8, 197.7, with attachment, you transmktted for our comment proposed revisions to- ASPR 15-205,6(f), regarding Compensation for Personal Services. Currently, under ASPR 15-205.6, deferred compensation costs are allocable and allowable only in those years in which they are allowable as tai deductions under the Internal Revenue Code,. Generally such costs are allowa- 'ble as tax deductions only in the years- in which the employees ar-e actually paid. TherefOre, under current ASPR policy, deferred compensation costs are neither allo- cable nor -allowable in the year of award to the employeel rather, they are allocable to and allowable in the years in which actual payments are made. Conversely, Cost Accounting Standard (CAS).415 sets forth measurement and allocability criteria based on accrual accountina concepts and prescribes that deferred compensation costs are allocable entirely to the year in which the award is made to the employee--they are not allocable to the years subsequent to award in which actual payments are made. In view of the above conflict, the ASPPRCommittee is considering a revision to the cited AkPR provision, incorporating CAS 415. The proposed revision makes subparal.raphs (A) and (B) of ASPR i5-205.6(f)(2)(iI) applicable only to deferred compensation costs not covered by CAS 415. The first phrase of each of these subparagraphs .requires deferred compensation costs to be deductible for the same fiscal year for Federal Income tax purposes under Section 404 of the Internal Revenue Code of 1954. We agree that subparagraphs (A) and (?) should no longer be applicable to costs covered by CAS 415. 2U. a~-.Z~7 ~ 22?.A4'72~. .rj q ..

What Is HeinOnline?

HeinOnline is a subscription-based resource containing thousands of academic and legal journals from inception; complete coverage of government documents such as U.S. Statutes at Large, U.S. Code, Federal Register, Code of Federal Regulations, U.S. Reports, and much more. Documents are image-based, fully searchable PDFs with the authority of print combined with the accessibility of a user-friendly and powerful database. For more information, request a quote or trial for your organization below.



Contact us for annual subscription options:

Contact Us

Already a HeinOnline Subscriber?

Log In

profiles profiles most