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AICPA National Tax & Sophisticated Tax Conferences with Private Foundation Summit 2020


NTA2024 - Revenue Recognition and Book/Tax Conformity under 451(b) and (c)


Nov 17, 2020 3:00pm ‐ Nov 17, 2020 3:50pm

Description

This session will review the 2019 filing season tax impact of the nonpublic entity adoption of ASC 606. While the proposed tax regulations under section 451(b) and (c) were issued in September 2019, several unanswered questions remain. This session will highlight any updated guidance since the proposed regulations, including procedural guidance that allows taxpayers to file tax accounting method changes to adopt or change methods of accounting as a result of the adoption of ASC 606. Government guests are invited to this session.

Learning Objectives:
  • Understand the proposed and final (hopefully) regulations under section 451 (b) and (c)
  • Understand how the changes to tax revenue recognition impacted the 2018/2019 tax filing season and what's next?

Speaker(s):

Tags: NTA
Category: Concurrent Session (Online)

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