All businesses whose average annual gross receipts for the three prior years do not exceed $26 million in 2019 ($25 million in 2018) may use the cash method.

Question

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The IRS allows small businesses with average annual gross receipts of $26 million or less in the three prior tax years (for tax years beginning after 2018) to use the cash method of accounting, which was increased from $25 million for tax years beginning after 2017.

All Businesses Whose Average Annual Gross Receipts for the Three