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 ...

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 ...

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. Revenue ...

The Sixth Circuit Court of Appeals recently upheld a Tax Court finding that the consistent omission of a step when computing inventory cost under the dollar-value ...

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 (IRS) recently released two revenue procedures that relate to the implementation of accounting method changes as a result of the revisions to Section 846 of the Internal ...

In response to the coronavirus pandemic, the Internal Revenue Service is implementing a new temporary procedure for faxing the duplicate copy of Form 3115, "Application for Change in Accounting Method ...

Effective April 1, 2024, Netweb Technologies adopted the moving weighted average cost method in place of the ...