required accrual period

Defined in 1 place of the United States Code.

For purposes of subparagraph (A), the term “required accrual period” means the period—

(i) which begins with the first taxable year for which the ownership test of subparagraph (C) is met with respect to the pass-thru entity (or a predecessor), and

(ii) which ends with the first taxable year after the taxable year referred to in clause (i) for which the ownership test of subparagraph (C) is not met and with respect to which the Secretary consents to the termination of the required accrual period.

Source

1994–present 26 U.S.C. § 1281Internal Revenue Code · Current inclusion in income of discount on certain short-term obligations · for purposes of this title