Page 546 - Large Business IRS Training Guides
P. 546
New IRC § 451(c)
Overall Theme
• New IRC § 451(c) generally codifies the one-
year deferral method previously provided in
Rev. Proc. 2004-34.
• Rev. Proc. 2004-34 provides for a one-year
deferral method for goods and services, or
other specified items.
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