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September 14, 2021
2021-1668

Wednesday, September 22 | Implementing income recognition rules under IRC Section 451 (1 pm ET)

The final regulations under IRC Section 451 changed many of the rules on income recognition but did not indicate how to implement all of those changes. With the recent release of Revenue Procedure 2021-34, taxpayers now have the procedural guidance needed to fully implement those regulations.

Given the new automatic method changes, modifications to existing automatic method changes and the removal or limited applicability of other automatic method changes, taxpayers will need to consider the new guidance in their final regulation implementation efforts. Please join us for a discussion of immediate actions taxpayers should take for their 2020 tax returns, as well as 2021 considerations.

Date: Wednesday, 22 September 2021

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

Registration: View archive here.

Panelists

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

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

Nicole Gresalfi, Manager, National Tax — Accounting Periods, Methods & Credits, Ernst & Young LLP

Moderator

Alison Jones, Principal, National Tax — 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 related to Section 451 method-change guidance. This intermediate level, group internet-based 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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