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accrue |
Also found in: Dictionary/thesaurus, Legal | 0.02 sec. |
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accrue To accumulate; grow. A $100,000 loan at 7 percent interest accrues interest at the rate of $7,000 per year, or $19.18 per day. The mortgage holder on a property being sold will typically tell the closing company a payoff amount accurate as of the anticipated closing date, with a daily accrual for each day closing is delayed. How to thank TFD for its existence? Tell a friend about us, add a link to this page, add the site to iGoogle, or visit webmaster's page for free fun content. |
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| ? Mentioned in | ? References in periodicals archive | |
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Generally, advance payments must be
reported as income either (1) in the year of receipt or (2) in the year
properly accruable under the taxpayer's method of (tax) accounting,
provided they are reported no later than they would be for financial
statement purposes.
79-410 recognized, but for section 461(d), the CFT (as currently
structured) as determined on the income of year 1 is accruable and
deductible in year 1 (the income year). Restructuring
charges, resulting from actions taken in 2005 that were not accruable at
that time, are expected to be less than $1. |
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