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January 29, 2021
2021-0215

Thursday, February 11 | The new income recognition landscape series: Final Section 451 regulations (1 pm ET)

The final Section 451 regulations provide taxpayers with guidance related to timing of income inclusion and advance payments for goods, services, and certain other items. The final regulations include new concepts and optional methods with respect to income recognition, which will require taxpayers to have a detailed understanding of their specific facts to determine how such rules apply to them.

Taxpayers have the option to apply the final regulations to their 2020 or 2021 tax returns, and therefore should begin identifying and analyzing relevant facts to apply the final regulations. In this first webcast in the series, we will introduce and discuss the new concepts, highlight key areas that require taxpayer-specific analysis, and discuss key considerations as taxpayers navigate the new income recognition landscape.

Date: Thursday, February 11, 2021

Time: 1:00-2:00 p.m. EST New York; 10:00-11:00 a.m. PST Los Angeles

Registration: View Archive here.

Panelists

Alison Jones, Principal, National Tax — Accounting Periods, Methods & Credits, Ernst & Young LLP

Sam Weiler, Principal, National Tax — Accounting Periods, Methods & Credits, Ernst & Young LLP

Jillian Chavis, Manager, National Tax — Accounting Periods, Methods & Credits, Ernst & Young LLP

Moderator

Scott Mackay, Partner, National Tax; Leader, Accounting Periods, Methods & Credits, Ernst & Young LLP

CPE credit offered: up to 1.2 depending on actual duration. Recommended field of study: Taxes. Learning objective: Identify and analyze relevant facts to apply the final Section 451 regulations. This course has no prerequisites or advanced preparation. Final CPE award to be based on content, polling and length of participation. See CPE FAQ for more information.

Learn about and register for Thought Center webcasts

You can learn about and register for any Thought Center webcast here.

 

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