Defer Income for Cash Basis client for Tax Return

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    Topic
  • February 9, 2015 at 7:36 pm #191929
    mintz25
    Member

    I am wondering if anyone can help me out with a tax return question. Are there any exceptions for cash basis S Corp to defer income on the tax return? The cash has been received in 2014 but we are wondering if it can be deferred. It’s for warranties over 1-3 years. (I think this is covered in FAR which I haven’t taken) If it was covered in REG, I don’t remember 🙂

    CMA, EA

    BEC - 78 8/2014 1x
    REG - 82 11/2014 1x
    AUD - 76 2/2015 1x
    FAR - ???

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