Revenue Procedure 2000-22

Washington, D.C.

The IRS published new guidelines, which are especially relevant to Landscape firms on the use of cash accounting. The guidance states, in part, that taxpayers with average gross income of $1 million or less will be allowed to use the cash method, and thus the installment method of accounting. The document, Revenue Procedure 2000-22, is part of the administration's response to the 1999 disallowance of the installment method of accounting for accrual-basis taxpayers.