Monthly Taxation Update

Date: 5/7/2025
Time: 12:00 PM - 4:00 PM EST
CPE Credit: 4 hours

This 4-hour webcast is designed to provide knowledge of IRC §451 and modification of accounting method rules relating to revenue recognition per the Tax Cuts and Jobs Act (TCJA) of 2017, and other applicable sources.

Topics Covered: 

• Overview
• General rules for including amounts in income
• Tax treatment of advanced payments
• Tax treatment of prepaid dues
• Accounting for redemption of trading stamps and coupons
• Tax year of deductions
• Taxpayers subject to AFS income inclusion rules
• Transactions treated differently for federal income tax and AFS purposes
• Interaction with income inclusion rules with exclusion provision and non-recognition transactions
• Economic performance
• Applicable financial statement
• The essential guide to FASB ASC 740
• Various other information

●Provide the tax practitioner with the latest rules for revenue recognition
●Provide the tax practitioner with latest and proposed Regulations dealing with   revenue recognition
●Provide discussion relative to FASB ASC Subtopic 740-10