When are S corporations required to use the Accrual Method of Accounting?
Are S Corporations subject to the same rules as a C corporations when revenues for the preceeding 3 years exceed exceed $5mm, in that the IRS requires them to report income and expenses on an accrual method?
I could not see any research stating this is applicable to S Corp's. Any help here would be most appreciated.
Thanks... Great Job on keeping us well informed!