TITLE 26 - INTERNAL REVENUE

CHAPTER I - INTERNAL REVENUE SERVICE, DEPARTMENT OF THE TREASURY

SUBCHAPTER A - INCOME TAX

PART 1 - INCOME TAXES

1.453A - 0 - Table of contents.

This section lists the paragraphs and subparagraphs contained in 1.453A1 through 1.453A3.

1.453A1Installment method of reporting income by dealers in personal property.

  (a) In general.

  (b) Effect of security.

  (c) Definition of dealer, sale, and sale on the installment plan.

  (d) Installment plans.

  (1) Traditional installment plans.

  (2) Revolving credit plans.

  (e) Installment income of dealers in personal property.

  (1) In general.

  (2) Gross profit and total contract price.

  (3) Carrying changes not included in total contract price.

  (f) Other accounting methods.

  (g) Records.

  (h) Effective date.

1.453A2Treatment of revolving credit plans; taxable years beginning on or before December 31, 1986.

  (a) In general.

  (b) Coordination with traditional installment plan.

  (c) Revolving credit plans.

  (d) Effective date.

1.453A3Requirements for adoption of or change to installment method by dealers in personal property.

  (a) In general.

  (b) Time and manner of electing installment method reporting.

  (1) Time for election.

  (2) Adoption of installation method.

  (3) Change to installment method.

  (4) Deemed elections.

  (c) Consent.

  (d) Cut-off method for amounts previously accrued.

  (e) Effective date.

[T.D. 8270, 54 FR 46376, Nov. 3, 1989]