TITLE

SECTION 2. COMMODITY CREDIT LOANS (§ 77)

PUB. DATE
September 2008
SOURCE
Internal Revenue Bulletin;9/8/2008, Vol. 2008 Issue 36, p622
SOURCE TYPE
Periodical
DOC. TYPE
Article
ABSTRACT
The article discusses the changes in methods of accounting involving the commodity credit loans to which revenue procedure (Rev. Proc.) 2008-52 applies in the U.S. It states that the change applies to a taxpayer who wants to change its accounting method for loans received from the Commodity Credit Corp., including the loan amount in gross income for the taxable year. It also informs that the scope limitations in section 4.02 of the procedure do not apply to the change.
ACCESSION #
34390639

 

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