Income Recognition

This second session provides an in-depth evaluation of income recognition with the panelists walking through the historical evolution of the All Events Test and income recognition methodologies. In light of the recent changes to Section 451(b) and 451(c) of the Internal Revenue Code, this session provides a timely overview of the new statutory provisions, as well as their accompanying final regulations. The panelists evaluate the implications of Section 451(b)’s new AFS Income Inclusion rule to your business, as well as opportunities for income deferral under the new Section 451(c).