TITLE

SECTION 17. PREPAID SUBSCRIPTION INCOME (§ 455)

PUB. DATE
September 2008
SOURCE
Internal Revenue Bulletin;9/8/2008, Vol. 2008 Issue 36, p657
SOURCE TYPE
Periodical
DOC. TYPE
Article
ABSTRACT
The article discusses the changes in methods of accounting for prepaid subscription income (PSI) to which revenue procedure (Rev. Proc.) 2008-52 applies in the U.S. It relates that the change applies to an accrual method taxpayer that wants to change its method for PSI to the method described in section 455. It informs that the change is made of cut-off basis and is applies only to PSI received on or after the beginning of the year of change.
ACCESSION #
34390654

 

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