Page 51 - Tax Reforms - Businesses

Corporate Methods of Accounting (5/5)

1 Change in CMA

Accounting
Eligible terminated S corporations
Periods
are required to change from the
2 Section 451 (b) overall cash method to an overall
NPRM
accrual method of accounting

because of a revocation of its S
3 Section 451 ( c ) corporation election, and they

NPRM
should make this method change

for the C corporation’s first taxable
4 Methods of year after such revocation.
Corporate

Accounting

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