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 ...