Finance & markets · 06/01/2021Updated: 10/17/2026 · 1 min read
Final Regulations on Accrual Method of Accounting and Advance Payments
Summary
The IRS has released final regulations on when income must be included under an accrual method of accounting, including advance payments for goods and services, affecting taxpayers with an applicable financial statement and those receiving advance payments.
Original source language: Federal Register — Department of the TreasuryOpen original release →