What the Tax Court gives with one hand, it can take away with the other.That’s the lesson one can learn from the pair of cases issued this year dealing with the completed contract method of accounting (CCM). The Tax Court’s opinion in Shea Homes, Inc. v. Commissioner, 142 T.C. No.3 (2014) was a great win for large-scale home developers like Shea Homes whose contracts to build and develop entire communities can take several years to complete. The IRS had taken the unfortunate position that Shea Homes’ contracts were not long term contracts […]