Tags: Case, Legal Case, Supreme Court Of The United States Case, Unit Of Work.
Schlude v. Commissioner 372 U.S. 128 (1963) is a decision by the United States Supreme Court in which the Court held that under the accrual method taxpayers must include as income in a particular year advance payments by way of cash negotiable notes and contract installments falling due but remaining unpaid during that year. In doing so the Court tossed aside the matching principle in favor of the earlier-of test.