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Get your taxes done using TurboTax
Yes, if you have filed a return with the accrual accounting box checked, you have formally requested to use that method for the life of your business (or until you request a change from the IRS).
Under the accrual method, you report income as it is invoiced. It doesn't appear you need to amend your 2022 return for income received in 2023 if the invoice was sent in 2022.
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‎April 22, 2024
6:18 AM