Page 534 - Large Business IRS Training Guides
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IRC § 451(b)
Statutory change
IRC § 451(b)(1)(A) post-TCJA now provides:
• if you are an accrual method taxpayer with an
Applicable Financial Statement,
• the all-events test with respect to any item of
gross income, is treated as met no later than
when such item, or portion thereof, has been
taken into account as revenue in the AFS or
other specified financial statement.
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