A colleague received a couple call backs from the IRS chief counsel office.   He was told that the intent of Notice 2020-75 was not to change the timing rules (i.e. cash vs. accrual) and that the regular timing rules would have to be satisfied.  For example, one would need to look at the state statute to determine if the all events test has been satisfied, so if you were to rely on this, you may end up with different answers in different states.