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 IRS found 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 202536011]

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