Tag: internal revenue servies

IRS Changing Up Procedures For Changing Accounting Method

New IRS reporting rules will be taking affect for many businesses around the country, the proposal is slotted to begin at the end of this year.

“The Internal Revenue Service is proposing procedures for how a taxpayer can ask for automatic consent to change an accounting method in preparation for the Financial Accounting Standards Board’s new revenue recognition standard…” [ Read more here ]

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