The regulations are complex and far-reaching, and they require almost all businesses to make accounting method
changes and review past decisions regarding whether to capitalize or expense tangible assets.
Thus, an accounting method
may not be changed or corrected through an amended return.
A change in accounting method
includes not only a change in the taxpayer's overall accounting method
, but also a change in the treatment of any material item.
Citing as "unduly burdensome" new Internal Revenue Service requirements to modify all Forms 3115 in progress to comply with new rules on changing accounting methods
the AICPA d issued a comment letter to the Internal Revenue Service requesting they allow for transition time.
Grassley and Max Baucus, chair and ranking member of the Senate Finance Committee, urging the retention of the LIFO inventory accounting method
Horiuchi, who heads the party's General Council, told reporters separately he told Koizumi in a meeting at the premier's office that the LDP is considering drafting a bill to freeze the accounting method
Thus, performance pricing likely gives managers additional incentives to make income-increasing accounting method
9, 2002, this nonaccrual accounting method
applies only to services in the fields of health, law, engineering, architecture, accounting, actuarial science, performing arts or consulting--if the taxpayer does not charge interest or a penalty for failure to timely pay the amount charged.
Several sections of the repair regulations require taxpayers to secure the IRS's consent before changing to an accounting method
provided for in the regulations.
A change in a taxpayer's accounting method
to the NAE book safe-harbor method is a change in accounting method
to which Secs, 446 and 481 apply.
On behalf of Tax Executives Institute (TEI), I am writing to urge that the Last-In, First-Out (LIFO) inventory accounting method
be retained as part of the Internal Revenue Code.
The Company analyzed the accounting impact under two methods: its former accounting method
under APB 25, and its current accounting method
under FAS 123R.
Request for Accounting Method
Change for Prepaid Expenses Denied
The government said the treatment might have been available to Capital One, but not without IRS consent to a change in accounting method
, as required under section 446(e).
He pointed out that accounting method
changes almost always require permission and emphasized that taxpayers should not stop at the regulations to determine what constitutes a change in method.