The all-events test, under U.S. federal income tax law, is the requirement that all the events fixing an accrual-method taxpayer's right to receive income or incur expense must occur before the taxpayer can report an item of income or expense. == Application == Under an accrual method of accounting, income is includible in gross income in the taxable year in which the all-events test is met.
The all-events test, under U.S. federal income tax law, is the requirement that all the events fixing an accrual-method taxpayer's right to receive income or incur expense must occur before the taxpayer can report an item of income or expense. == Application == Under an accrual method of accounting, income is includible in gross income in the taxable year in which the all-events test is met.
Source: Wikipedia "All-events test" · CC BY-SA 4.0
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