Accounting methods and periods Accounting methods and periods

Jan 6, 2021 - KPMG report: Final regulations on changes to income recognition rules; initial impressions

Dec 30, 2020 - Final regulations released to Federal Register: Revenue recognition and timing of income inclusion under section 451

Dec 21, 2020 - Final regulations: Revenue recognition and timing of income inclusion under section 451 (text of regulations)

Dec 14, 2020 - Final regulations under section 451(b), OIRA review completed

Nov 18, 2020 - Regulations pending OIRA review: Final regulations under section 451(b)

Jul 11, 2019 - Final regulations: Advance payments for goods, long-term contracts 

Jul 30, 2020 - Proposed regulations: Simplified accounting for small businesses, long-term contracts (text of regulations)

Sep 6, 2019 - KPMG report: Proposed regulations on changes to income recognition rules; initial impressions

Sep 5, 2019 - Proposed regulations: Timing of income inclusion under section 451 (text of regulations)

Aug 21, 2019 - Proposed regulations under section 451(b) and (c); OIRA review completed

Jun 18, 2019 - Regulations pending OIRA review: Proposed regulations under section 451(b)

Apr 12, 2019 - OIRA review of proposed regulations: Guidance under section 451(c)

Oct 26, 2018 - Proposed regulations: Removal of regulations on advance payments, goods and long-term contracts

Oct 12, 2018 - Proposed regulations: Removing existing regulations on advance payments for goods, long-term contracts

Sep 27, 2018 - Notice 2018-80: Future regulations to provide market discount not includible in income under section 451(b)

Apr 12, 2018 - Notice 2018-35: Transitional guidance, accrual method taxpayers deferring advance payments from income

Feb 21, 2020 - Rev. Proc. 2020-13: Guidance for farmers on uniform capitalization rules

Aug 9, 2019 - KPMG report: Guidance on accounting method change for insurance companies (Rev. Proc. 2019-34)

Aug 6, 2019 - Rev. Proc. 2019-34: Simplified procedures for insurance companies to change methods of accounting, compliance with U.S. tax law changes

Jul 23, 2019 - KPMG report: Section 846 and revised discount factors and guidance on accounting method change (insurance companies)

Jul 22, 2019 - Rev. Proc. 2019-30: Insurance companies, automatic consent for accounting method change

Dec 14, 2018 - KPMG report: Initial impressions about Rev. Proc. 2019-10, computing insurance company reserves

Dec 13, 2018 - Rev. Proc. 2019-10: Insurance company, method of accounting change for computing reserves (text of revenue procedure)

Nov 29, 2018 - Rev. Proc. 2018-60: Automatic consent procedures, timing of revenue recognition 

Aug 22, 2018 - Rev. Proc. 2018-44: Accounting method change, “eligible terminated S corporation” (new tax law)

Aug 6, 2018 - Rev. Proc. 2018-40: Automatic consent, small businesses seeking accounting method change

Jun 19, 2018 - Rev. Proc. 2018-35: Automatic change, method of accounting for citrus replanting costs

May 9, 2018 - Rev. Proc. 2018-31: List of automatic changes; certain accounting method changes reflecting new tax law

Feb 14, 2018 - Rev. Proc. 2018-17: Initial impressions, section 965 and “specified foreign corporations” changing tax years

Feb 13, 2018 - Rev. Proc. 2018-17: Requests by foreign corporations changing tax year, application of section 965

Feb 10, 2020 - IRS practice unit: Interest capitalization for self-constructed assets; updated for TCJA measures

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