The IRS on Thursday updated the list of accounting method changes to which automatic change procedures apply (Rev. Proc. 2021-34). Generally, unless otherwise provided, a taxpayer must secure the ...
On April 30, 2024, the Internal Revenue Service (IRS) released Rev. Proc. 2024-23, List of Automatic Changes, which provides the list of tax accounting method changes a taxpayer may file under the IRS ...
Recently released Revenue Procedure 2021-26 (the Revenue Procedure) provides taxpayers with guidance regarding accounting method changes made on behalf of foreign corporations. The Revenue Procedure: ...
Under guidance in Rev. Proc. 2022-9 issued Thursday, taxpayers may obtain the IRS’s automatic consent to change their tax accounting methods to comply with final regulations relating to simpler tax ...
Revenue Procedure 2015-33 clarifies several items in another revenue procedure issued earlier this year, Rev. Proc. 2015-13, regarding certain procedures for changing a method of accounting.
Brette Sember is a retired attorney who has been writing and editing law and legal topics for more than 25 years. She is the author of more than 40 books, is a nationally recognized expert on divorce ...
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