Installment Method Repeal.

• Author: Laffie, Lesli S.

Notice 2000-26 provides, in question-and-answer form, guidance on the application of Sec. 453(a)(2) to installment sales. The Ticket to Work and Work Incentives Act of 1999, Section 536, repealed use of the installment sale method by accrual-method taxpayers, effective for sales or other dispositions occurring after Dec. 16,1999. (See Tax Clinic, "Congress Repeals Installment Reporting for Accrual Taxpayers," TTA, March 2000, p. 142.)

The questions and answers address transactions between (1) C corporations and shareholders, (2) S...