Page 563 - Large Business IRS Training Guides

Example 2

Goods and Services - Rev. Proc. 2004-34

• On June 1, 2018, B, a landscape

architecture firm, receives an advance

payment for goods and services that,

under the terms of the agreement, must be

provided by December 2019.

• On December 31, 2018, B estimates that

3/4 of the work under the agreement has

been completed.

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