Tax Readiness: Section 451 proposed regulations: The all-events test under new Section 451(b)
The IRS and Treasury have released long-awaited proposed regulations implementing Sections 451(b) and 451(c), added by the 2017 tax reform act, and Rev. Proc. 2019-37, which provides procedures for a taxpayer to change its method of accounting to comply with the amendments to Section 451, including the proposed regulations. This Insight discusses the Section 451(b) proposed regulations. A forthcoming Insight will discuss the Section 451(c) proposed regulations and Rev. Proc. 2019-37.
PwC professionals will discuss the proposed regulations in a Tax Readiness series webcast on Thursday, September 26, 2019 (6pm UK)