The IRS and Treasury have released proposed regulations under Section 451(b) and separate proposed regulations under Section 451(c). The proposed regulations provide rules for accrual-method taxpayers on the timing of recognizing income under the all-events test and on deferring recognition of certain advance payments. PwC will publish a detailed analysis of the proposed regulations within the coming days. PwC professionals will discuss the proposed regulations in an upcoming Tax Readiness series webcast.
Partner, Accounting Method and Fixed Asset Services Leader, PwC US