IRS Updates Accounting Method Change Procedures

The IRS issued new procedures taxpayers should use to make accounting method changes. Rev. Proc. 2015-13 contains the rules taxpayers should follow to make non-automatic changes in methods of accounting, which are changes that require the IRS’s consent. It also contains the procedures for applying for automatic changes in accounting method, which do not require the IRS’s consent. Rev. Proc. 2015-14 contains the list of automatic changes in accounting procedure to which the automatic change procedures in Rev. Proc. 2015-13 apply.

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