Rev. Proc. 2015-13 and 2015-14: Changes in method of accounting

Changes in method of accounting

The IRS today release advance copies of two revenue procedures that update the rules for a change of a method of accounting for federal income tax purposes.

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  • Rev. Proc. 2015-13 [PDF 370 KB] updates and revises the general procedures under section 446(e) and Reg. section 1.446-1(e) to obtain the consent of the Commissioner of Internal Revenue to change a method of accounting for federal income tax purposes. Rev. Proc. 2015-13 combines the procedures to obtain the advance (non-automatic) consent and automatic consent of the Commissioner to change a method of accounting into a single revenue procedure. The accounting method changes required to be filed under the automatic consent procedures are set forth separately in Rev. Proc. 2015-14.
  • Rev. Proc. 2015-14 [PDF 1.1 MB] provides the list of automatic changes to which the automatic change procedures in Rev. Proc. 2015-13 will apply.

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