TITLE

SECTION 15. TAXABLE YEAR OF INCLUSION (§ 451)

PUB. DATE
September 2008
SOURCE
Internal Revenue Bulletin;9/8/2008, Vol. 2008 Issue 36, p655
SOURCE TYPE
Periodical
DOC. TYPE
Article
ABSTRACT
The article discusses the changes in methods of accounting for the taxable year of inclusion to which revenue procedure (Rev. Proc.) 2008-52 applies in the U.S. It relates that the change applies to an accrual method taxpayer as defined in section 581 and wants to comply with section 451 for qualified stated interest or nonperforming loans. It also applies to a taxpayer who wants to include advance rentals in gross income in the taxable year received.
ACCESSION #
34390652

 

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