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Rev. Rul. 71-299


Rev. Rul. 71-299; 1971-2 C.B. 218

DATED
DOCUMENT ATTRIBUTES
  • Cross-Reference

    26 CFR 1.451-1: General rule for taxable year of inclusion.

    (Also Section 446, 1.446-1.)

  • Code Sections
  • Language
    English
  • Tax Analysts Electronic Citation
    not available
Citations: Rev. Rul. 71-299; 1971-2 C.B. 218
Rev. Rul. 71-299

Revenue Ruling 60-85, C.B. 1960-1, 181, as it relates to the time for inclusion in income of prepaid income from contracts to furnish services, Revenue Ruling 65-141, C.B. 1965-1, 210, relating to the proper time of inclusion in income of advance payments for room and board received by a college dormitory corporation, and Revenue Ruling 68-44, C.B. 1968-1, 191, as it relates to the time for inclusion in income of amounts due under the "Cropland Adjustment Program" by a taxpayer employing the accrual method of accounting, are modified to the extent inconsistent with Section 3 of Revenue Procedure 71-21, page 549, this Bulletin, relating to the permissible methods of treating advance payments for services to be performed in the future by taxpayers using the accrual method of accounting.

Revenue Ruling 70-445, C.B. 1970-2, 101, which modified the above Revenue Rulings, is superseded.

DOCUMENT ATTRIBUTES
  • Cross-Reference

    26 CFR 1.451-1: General rule for taxable year of inclusion.

    (Also Section 446, 1.446-1.)

  • Code Sections
  • Language
    English
  • Tax Analysts Electronic Citation
    not available
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