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legislative history. Based on indications in the legislative
history that Congress was concerned with taxpayer deferral of
income, a regulation requiring all revenues to be reasonably
estimated and included in the total contract price comports with
that congressional intent.8
Petitioner makes several contrary arguments. First, it
contends that implicit in the enactment of the look-back method
is congressional approval of the all events test. The all events
test, which was developed as case law and embodied in
regulations, applies to accrual method taxpayers and is used in
determining the taxable year in which items of income or
deductions are properly reported by such taxpayers. Under
section 1.451-1(a), Income Tax Regs., income is includable in
gross income when all the events have occurred which fix the
right to receive such income and the amount thereof can be
determined with reasonable accuracy. Under the all events test,
disputed claims to income are not accruable until a settlement is
8 We also note that the regulation has been in existence
without relevant change since its promulgation in 1990, and
during its existence Congress has amended section 460 without
amending section 460(b) to alter the regulation’s interpretation
of the statute. Under the successive reenactment doctrine, if
Congress reenacts without change the statutory language that has
been construed by the agency administering that statute,
Congress’ decision not to change that statutory language may be
persuasive evidence that the agency’s construction is the one
intended by Congress. See Commodity Futures Trading Commn. v.
Schor, 478 U.S. 833, 845-846 (1986).
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