IRS PLR: Request to Change Accounting Period Granted (IRC §442)

The IRS has issued a private letter ruling on Section 442, granting the taxpayer’s request to change their annual accounting period for federal income tax purposes. The taxpayer submitted Form 1128 requesting a change in their tax year within 90 days of the due date. The IRS determined that the taxpayer’s Form 1128, Application to Adopt, Change, or Retain a Tax Year, was timely filed, thereby allowing the requested change in accounting period. [PLR 202536008]

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