Comments on Guidance Addressing a Retailer's Inclusion

On November 24, 2009, the Treasury Department and the Internal Revenue Service (IRS) released the 2009-2010 priority guidance plan. A carryover Tax Accounting item from the prior year’s plan is guidance addressing a retailer’s inclusion of income under § 4511 resulting from the sale and use of gift cards. The Retail Industry Leaders Association (RILA) respectfully submits these comments for your consideration regarding this guidance project.