Income Tax

REG–104872–18, page 762. These proposed regulations propose to remove section 1.451-5 of the Income Tax Regulations (26 CFR part 1), and its cross-references, relating to the treatment of advance payments for goods and long-term contracts under section 451 of the Internal Revenue Code. The regulations would affect accrual method taxpayers who receive advance payments for goods, including those for inventoriable goods.

Finding Lists begin on page ii.