Internal Revenue Service September 9, 2019 – Federal Register Recent Federal Regulation Documents

Taxable Year of Income Inclusion Under an Accrual Method of Accounting
Document Number: 2019-19325
Type: Proposed Rule
Date: 2019-09-09
Agency: Internal Revenue Service, Department of Treasury, Department of the Treasury
This document contains proposed regulations regarding the timing of income inclusion under section 451 of the Internal Revenue Code (Code). The proposed regulations reflect changes made by the Tax Cuts and Jobs Act. These proposed regulations affect taxpayers that use an accrual method of accounting and have an applicable financial statement.
Advance Payments for Goods, Services, and Other Items
Document Number: 2019-19197
Type: Proposed Rule
Date: 2019-09-09
Agency: Internal Revenue Service, Department of Treasury, Department of the Treasury
This document contains proposed regulations regarding the timing of income inclusion under section 451 of the Internal Revenue Code (Code) of advance payments for goods, services, and certain other items. The proposed regulations reflect changes made by the Tax Cuts and Jobs Act. These proposed regulations affect taxpayers that use an accrual method of accounting and receive advance payments.