TITLE

SECTION 19. TAXABLE YEAR OF DEDUCTION (§ 461)

PUB. DATE
September 2008
SOURCE
Internal Revenue Bulletin;9/8/2008, Vol. 2008 Issue 36, p658
SOURCE TYPE
Periodical
DOC. TYPE
Article
ABSTRACT
The article discusses the changes in methods of accounting for taxable year of deduction to which revenue procedure (Rev. Proc.) 2008-52 applies in the U.S. It states that the change applies to an accrual method taxpayer who wants to change its method for self-insured liabilities relating to employee medical expenses that are not paid from a welfare benefit fund. It also applies to a taxpayer who wants to treat liabilities for real property, personal property, and state income taxes.
ACCESSION #
34390656

 

Related Articles

  • SECTION 14. METHODS OF ACCOUNTING (§ 446).  // Internal Revenue Bulletin;9/8/2008, Vol. 2008 Issue 36, p647 

    The article discusses the changes in methods of accounting to which revenue procedure (Rev. Proc.) 2008-52 applies in the U.S. It relates that the change applies to a taxpayer who wants to change its accounting method from the cash receipts and disbursements to an accrual method. However, the...

  • SECTION 15. TAXABLE YEAR OF INCLUSION (§ 451).  // Internal Revenue Bulletin;9/8/2008, Vol. 2008 Issue 36, p655 

    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...

  • SECTION 17. PREPAID SUBSCRIPTION INCOME (§ 455).  // Internal Revenue Bulletin;9/8/2008, Vol. 2008 Issue 36, p657 

    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 461 AND ACCRUAL-METHOD TAXPAYERS; THE TREATMENT OF LIABILITIES ARISING FROM.... Aidinoff, M.Bernard; Lopata, Benjamin B. // Tax Lawyer;Spring80, Vol. 33 Issue 3, p789 

    Focuses on the regulations for long-term liabilities in the United States. Deductions of expenses by accrual-method taxpayers; Effects of inflation on the discounting requirements; Achievement of fairness on long-term liabilities to taxpayer and Department of the Treasury.

  • The Importance of the Going Concern Assumption in Employee Benefit Plans. Singerman, Eduardo; Broder, Gary // Benefits & Compensation Digest;May2008, Vol. 45 Issue 5, p32 

    The article discusses the importance of the going concern assumption in employee benefit plans. A Plan which is a going concern is one that will continue to provide benefits to its members in accordance with its plan document for the future without any intentions by the plan sponsor to terminate...

  • When Does a Liability for Employee Benefits Arise? Crookston, Aaron // Chartered Accountants Journal;Jun2000, Vol. 79 Issue 5, p20 

    Identifies when a liability for employee benefits will arise. Definition of employee benefits; Guidance on accounting for employee benefits; Recognition of employment benefit liabilities.

  • Inflation Accounting and Nonfinancial Corporate Profits: Financial Assets and Liabilities. Shoven, John B.; Bulow, Jeremy I. // Brookings Papers on Economic Activity;1976, Issue 1, p15 

    This article examines the accounting practices for nominally denominated financial assets and liabilities in the U.S. The Haig-Simons, or purchasing-power-accrual, concept of corporate income requires recording all assets and liabilities, physical or financial, at their market values in order to...

  • SEDNA BOATS: A SEARCH FOR UNRECORDED LIABILITIES AUDIT SIMULATION. Drira, Mohamed; Martot, Nicolas // Global Conference on Business & Finance Proceedings;2013, Vol. 8 Issue 1, p517 

    This teaching case simulates an audit engagement in which students are prompted to perform a procedure of search for unrecorded liabilities. The project aims at helping students understand the purpose of the procedures of search for unrecorded liabilities and identify related management...

  • accrued liabilities.  // Bloomsbury Business Library - Business & Management Dictionary;2007, p127 

    A definition of the term "accrued liabilities" is presented. It refers to liabilities which are recorded, although payment has not yet been made.

Share

Read the Article

Courtesy of THE LIBRARY OF VIRGINIA

Sorry, but this item is not currently available from your library.

Try another library?
Sign out of this library

Other Topics