TITLE

SECTION 33. SHORT-TERM OBLIGATIONS (§ 1281)

PUB. DATE
September 2008
SOURCE
Internal Revenue Bulletin;9/8/2008, Vol. 2008 Issue 36, p675
SOURCE TYPE
Periodical
DOC. TYPE
Article
ABSTRACT
The article discusses the changes in methods of accounting for short-term obligations to which revenue procedure (Rev. Proc.) 2008-52 applies in the U.S. It relates that the change applies to a taxpayer that wants to comply with section 1281 for interest income on short-term obligations. It also applies to a bank that uses the cash receipts and disbursements method of accounting as its overall accounting method.
ACCESSION #
34390670

 

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