{"abstract":"This document contains final regulations regarding the timing of income inclusion under an accrual method of accounting, including the treatment of advance payments for goods, services, and certain other items. The regulations reflect changes made by the Tax Cuts and Jobs Act and affect taxpayers that use an accrual method of accounting and have an applicable financial statement. These final regulations also affect taxpayers that use an accrual method of accounting and receive advance payments.","action":"Final regulations.","agencies":[{"raw_name":"DEPARTMENT OF THE TREASURY","name":"Treasury Department","id":497,"url":"https://www.federalregister.gov/agencies/treasury-department","json_url":"https://www.federalregister.gov/api/v1/agencies/497","parent_id":null,"slug":"treasury-department"},{"raw_name":"Internal Revenue Service","name":"Internal Revenue Service","id":254,"url":"https://www.federalregister.gov/agencies/internal-revenue-service","json_url":"https://www.federalregister.gov/api/v1/agencies/254","parent_id":497,"slug":"internal-revenue-service"}],"body_html_url":"https://www.federalregister.gov/documents/full_text/html/2021/01/06/2020-28653.html","cfr_references":[{"chapter":null,"citation_url":null,"part":"1","title":26}],"citation":"86 FR 810","comment_url":null,"comments_close_on":null,"correction_of":null,"corrections":["https://www.federalregister.gov/api/v1/documents/C1-2020-28653","https://www.federalregister.gov/api/v1/documents/C2-2020-28653"],"dates":"Effective Date: The regulations are effective on December 30, 2021.","disposition_notes":null,"docket_ids":["TD 9941"],"dockets":[],"document_number":"2020-28653","effective_on":"2020-12-30","end_page":863,"executive_order_notes":null,"executive_order_number":null,"full_text_xml_url":"https://www.federalregister.gov/documents/full_text/xml/2021/01/06/2020-28653.xml","html_url":"https://www.federalregister.gov/documents/2021/01/06/2020-28653/taxable-year-of-income-inclusion-under-an-accrual-method-of-accounting-and-advance-payments-for","images":{},"images_metadata":{},"json_url":"https://www.federalregister.gov/api/v1/documents/2020-28653?publication_date=2021-01-06","mods_url":"https://www.govinfo.gov/metadata/granule/FR-2021-01-06/2020-28653/mods.xml","not_received_for_publication":null,"page_length":54,"page_views":{"count":7982,"last_updated":"2026-10-24 14:15:04 -0400"},"pdf_url":"https://www.govinfo.gov/content/pkg/FR-2021-01-06/pdf/2020-28653.pdf","presidential_document_number":null,"proclamation_number":null,"public_inspection_pdf_url":"https://public-inspection.federalregister.gov/2020-28653.pdf?1609362921","publication_date":"2021-01-06","raw_text_url":"https://www.federalregister.gov/documents/full_text/text/2021/01/06/2020-28653.txt","regulation_id_number_info":{"1545-BO68":{"issue":"202010","html_url":"https://www.federalregister.gov/regulations/1545-BO68/section-451-b-requirements","title":"Section 451(b) Requirements","xml_url":"http://www.reginfo.gov/public/do/eAgendaViewRule?pubId=202010&RIN=1545-BO68&operation=OPERATION_EXPORT_XML","priority_category":"Economically Significant"},"1545-BO78":{"issue":"202010","html_url":"https://www.federalregister.gov/regulations/1545-BO78/guidance-on-new-section-451-c-","title":"Guidance on New Section 451(c)","xml_url":"http://www.reginfo.gov/public/do/eAgendaViewRule?pubId=202010&RIN=1545-BO78&operation=OPERATION_EXPORT_XML","priority_category":"Economically Significant"}},"regulation_id_numbers":["1545-BO68","1545-BO78"],"regulations_dot_gov_info":{"supporting_documents":[],"regulatory_plan":{"html_url":"https://www.federalregister.gov/regulations/1545-BO68/section-451-b-requirements","title":"Section 451(b) Requirements"},"comments_count":0,"agency_id":"IRS","comments_url":"https://www.regulations.gov/docketBrowser?rpp=50&so=DESC&sb=postedDate&po=0&dct=PS&D=IRS-2019-0038","supporting_documents_count":0,"docket_id":"IRS-2019-0038","document_id":"IRS-2019-0038-0018","regulation_id_number":"1545-BO68","title":"Taxable Year of Income Inclusion Under an Accrual Method of Accounting (REG-104870-18)","checked_regulationsdotgov_at":"2021-01-08T04:30:08Z"},"regulations_dot_gov_url":null,"significant":true,"signing_date":null,"start_page":810,"subtype":null,"title":"Taxable Year of Income Inclusion Under an Accrual Method of Accounting and Advance Payments for Goods, Services, and Other Items","toc_doc":"Taxable Year of Income Inclusion under an Accrual Method of Accounting and Advance Payments for Goods, Services, and Other Items","toc_subject":null,"topics":["Income taxes","Reporting and recordkeeping requirements"],"type":"Rule","volume":86}