IRS Rev. Proc.: Updated List of Automatic Accounting Method Changes to Which Automatic Change Procedures Apply (IRC §446)

Procedures to obtain automatic consent to change methods of accounting under tax code Section 446 and Treasury Regulations Section 1.446-1(e) and to change methods of accounting for certain inventory costs to comply with Section 263A, Section 461, and Section 471, the IRS provided August 12. Revenue Procedure 2019-43 is modified. The guidance also modifies Revenue Procedure 2015-13, as clarified and modified by Revenue Procedure 2015-33, and further modified by Revenue Procedure 2016-1, Revenue Procedure 2017-59, and Revenue Procedure 2021-26, to provide ...