IRS Issues PLR Granting Extension for Form 1128 Filing to Adopt 52-53 Week Fiscal Year

The IRS has issued a private letter ruling on Treas. Regs. §§301.9100 and I.R.C. §§441 and 442 granting taxpayer extension of time to file Form 1128 to adopt a 52-53 week fiscal year ending on a specific day of the week in a calendar month, accepting as timely the form filed with its Year 1 tax return after the original deadline. [PLR 202612008]

This story was produced by Bloomberg Tax Automation, and edited by Bloomberg Tax staff.