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March 30, 2021

Tuesday, April 13 | The new income recognition landscape series: Optional methods limiting acceleration of income (1 pm ET)

Building on the first webcast in which we provided an overview of the final Section 451 regulations, this next webcast in EY's income recognition landscape series will explore the final regulations provisions to limit applicable financial statement (AFS) income acceleration. Taxpayers facing income acceleration under the AFS income inclusion rule should consider the applicability of these provisions and assess the impact on income otherwise required to be accelerated. Specifically, we will discuss common fact patterns and key considerations related to the enforceable right concept, the AFS cost offset method, and the importance of evaluating the tax treatment of a transaction.

The final regulations will require taxpayers to have a detailed understanding of their specific facts to determine if, and how, the rules apply to them. This analysis may guide the decision as to whether taxpayers choose to apply the final regulations early or wait to implement the rules for their 2021 tax year.

An archive of the first webcast in the series (Final Section 451 regulations: overview) is available here.

Date: Tuesday, April 13, 2021

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

Registration: View archive here.


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


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.

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