Ministerial acts after General Dynamics. (IRS determination of when reimbursement occurs): An article from: The Tax Adviser

This digital document is an article from The Tax Adviser, published by American Institute of CPA's on June 1, 1992. The length of the article is 1582 words. The page length shown above is based on a typical 300-word page. The article is delivered in HTML format and is available in your Amazon.com Digital Locker immediately after purchase. You can view it with any web browser.

From the supplier: The time to report income or deductions for the purposes of the accrual method is determined by use of the all-events test. Recent IRS decisions have stated that contracts requiring filing of claims for reimbursement or honoring of liability are ministerial acts that do not defer responsibility to a later time. The IRS's rationale is that there is no reason to believe that the claims will not be filed. This ruling affects the timing of income or liability reporting.

Citation Details
Title: Ministerial acts after General Dynamics. (IRS determination of when reimbursement occurs)
Author: Carol Conjura
Publication:The Tax Adviser (Magazine/Journal)
Date: June 1, 1992
Publisher: American Institute of CPA's
Volume: 23 Issue: n6 Page: 355(3)

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