TITLE

SECTION 2. BACKGROUND

PUB. DATE
September 2008
SOURCE
Internal Revenue Bulletin;9/8/2008, Vol. 2008 Issue 36, p606
SOURCE TYPE
Periodical
DOC. TYPE
Article
ABSTRACT
The article discusses the section two of the Revenue Procedure 2008-52 regarding the change in method of accounting in the U.S. It determines that the change include the overall plan of accounting for gross income or deductions and the treatment of any material item. It allows the Commissioner to determine the changes using a cut-off basis, in which only the items arising on or after the beginning of the year of change are accounted under the new method of accounting.
ACCESSION #
34390625

 

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