The final regulations adopt two sets of proposed regulations (REG-104554-18 and REG-14870-18), with certain revisions made in response to written comments and testimony at a public hearing on the proposed regulations. 115-97, providing guidance on the timing of income inclusion under an accrual method of accounting, including the treatment of advance payments for goods, services, and certain other items. 451(b) and (c), as amended by the law known as the Tax Cuts and Jobs Act, P.L.
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