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

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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.

https://regulations.justia.com/regulations/fedreg/2019/09/09/2019-19325.html

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.

https://regulations.justia.com/regulations/fedreg/2019/09/09/2019-19197.html