IRS Releases Proposed Regulations under Section 451

The IRS has released proposed regulations under section 451(b) and (c), which were amended by the Tax Cuts and Jobs Act. Section 451(b) generally provides that a taxpayer must recognize income no later than when the taxpayer takes the income into account on its applicable financial statement, and section 451(c) provides rules regarding the timing of the recognition of advance payments.


Read the Proposed Regulations: Proposed Section 451(b) Regulations; Proposed Section 451(c) Regulations

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