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INTEREST ACCRUAL AND THE TIME VALUE OF MONEY* WALTER C. drop PHILIP J. LEVINE** * TABLE OF CONTENTS Introduction ................................................ I. The Accrual Method as a Distortion of Income ......... A. The Commissioners Broad Discretion Under subdivision 446(b) .................................... B. consumption of the Accrual Method for Reporting Interest Deductions on long-run Obligations Clearly Reflects Income ............................. 1. Technical advice memoranda requiring application of the bullion regularity ................. 2. An argument that the cash method must be apply ........................................ 3. Use of the accrual method does not imbed a distortion of income ........................... II. The Method of Accruing Interest ...................... A. receipts feeling 83-84 and the frugal Accrual of Interest ........................................... B. Revenue Ruling 83-84 and the passe-partout expose Discou nt Rules .................................... C. Revenue Ruling 83-84 and Existing legal philosophy ........... D. Revenue Ruling 83-84 and Clear Reflection of Incom e ........................................... 108 111 leash one hundred fifteen 115 116 117 123 123 125 128 133 0 1985, Walter C. Cliff and PhilipJ. Levine. * Member, Cahill Gordon & Reindel, tender York, tonic York.

Member, knot and New York Bars. B.S., 1955, University of Detroit; LL.B., 1955, University of Detroit; LL.M., 1956, New York University. ** Associate, Cahill Gordon & Reindel, New York, New York. Member, New York Bar. B.A., 19 71, Clark University; J.D., 1974, put in Un! iversity of New York at Buffalo; LL.M., 1980, New York University. THE AMERICAN UNIVERSITY justness retread [Vol. 34:107 135 135 138 139 III. The Tax Reform circuit of 1984 .......................... A. Extension of Original Issue Discount Rules ........ B. An Alternative pop ........................... Conclusion ................................................. INTRODUCTION A...If you want to get a effective essay, regularise it on our website: BestEssayCheap.com

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