TITLE

SECTION 5. TERMS AND CONDITIONS OF CHANGE

PUB. DATE
September 2008
SOURCE
Internal Revenue Bulletin;9/8/2008, Vol. 2008 Issue 36, p611
SOURCE TYPE
Periodical
DOC. TYPE
Article
ABSTRACT
The article discusses the section five of the U.S. Revenue Procedure (Rev. Proc.) 2008-52. It states that the accounting method change must be under the terms and conditions provided in the Rev. Proc. and the year of change is the taxable year designated on the application. It also suggests taxpayer that stops in business to take the remaining balance of any section 481(a) adjustment relating the business into account in computing taxable income in the taxable year of the termination.
ACCESSION #
34390628

 

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