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Abstract

In one of the great ironies of the age, on the very day President Clinton signed the widely criticized near-ban on installment reporting of gain by taxpayers on the accrual method of accounting, December 28, 2000, the U.S. Tax Court delivered more bad news on installment reporting of gain to accrual accounting taxpayers. If not reversed on appeal, the Tax Court decision could promise to be a barrier to installment. Certainly, the Tax Court decision is a more serious problem for taxpayers disposing of property “used or produced in the business of farming.”

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