IRC section 446(e) requires that a taxpayer secure IRS consent to change its method of accounting. Treasury regulations section 1.446-1(e)(2)(i) specifies that a taxpayer do this before computing its ...
In order to obtain IRS approval to change a taxpayer’s current accounting method, the taxpayer must file Form 3115, “Application for a Change in Accounting Method” with the IRS. The instructions to ...
The IRS has issued new guidance on automatic accounting method changes. Revenue Procedure 2009-39 provides certain additions, modifications and clarifications to Revenue Procedures 2008-52 and 97-27 ...
The Internal Revenue Service has released a new revenue procedure that expands the waiver of eligibility rules for accounting method changes for some research or experimental expenses. Processing ...
The Internal Revenue Service has released Rev. Proc. 2025-23, which updates the list of automatic procedures for taxpayer-initiated requests for changes in methods of accounting. Processing Content An ...
Yes. The IRS has released guidance providing that small business taxpayers (see below) may make certain tangible property changes in methods of accounting in order to take into account only amounts ...
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New Guidance Clarifies Tax Elections, Amendments
Federal tax authorities released a revenue procedure offering step-by-step instructions for taxpayers navigating a recent law. The guidance explains how to make elections, file amended returns, and ...
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