| | Tax Executive, The: Final section 467 regulations present problems and opportunities - IRC section 467 (Site not responding. Last check: 2007-11-06) |
 | | Section 467 generally requires a lessor and lessee of tangible property under a section 467 rental agreement to treat rents consistently and to use the accrual method of accounting (and time value of money principles) regardless of their overall method of accounting. |
 | | If a section 467 rental agreement has increasing or decreasing rents, the amount of rent and interest to be taken into account by the lessor and the lessee must be determined. |
 | | First, a lease is not a section 467 rental agreement if it specifies equal amounts of rent for each month throughout the lease term and all rent payments are due in the calendar year to which the rent relates (or the preceding or succeeding calendar year). |
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