"Drop-down" technique allows change in accounting method without IRS...

The Tax Adviser;  February 1, 1996 ;     700+ words ......corporation desiring to change its accounting method but unable to secure IRS approval...that are free to select the desired accounting method. However, use of the technique is...corporation may benefit from a change in accounting method; for example, if an accrual-basis...

Maneuvering through the sec. 381 regulations' accounting method rules.

The Tax Adviser;  May 1, 1997 ;     700+ words ......determine the appropriate accounting method. This can prove to be a mine...for the unwary. Principal Accounting Method The first step in maneuvering...will continue to use the accounting method used before the transaction...

Is a change in characterization an accounting-method change?

The Tax Adviser;  July 1, 2007 ;     700+ words ......Is a change in characterization an accounting-method change? Effect of Classification...treatment of an item is classified as an accounting method is pivotal, because such classification...made. If the treatment is deemed an accounting method, the taxpayer must seek IRS permission...

New rules for accounting method changes

The CPA Journal;  August 1, 1997 ;     267 words ......taxpayer that wanted to change an accounting method needed to file a Form 3115, Application for Change in Accounting Method, within the first 180 days...taxpayer to request a change in accounting method at any time during the year...

IRS-initiated accounting method changes.

The Tax Adviser;  September 1, 1998 ;     700+ words ......Sec. 446(b) for IRS-initiated accounting method changes. While Rev. Proc. 97-27 indicates that accounting method changes made by the Service...little guidance on nonvoluntary accounting method changes. Notice 98-31 provides...

Stores, GOP oppose Clinton on retail accounting method.(retail industry...

WWD;  March 13, 1997 ;     402 words ......President Clinton's proposal to scrap the accounting method known as lower of cost or market...Committee Wednesday. The repeal of the accounting method popular among retailers is one of...unlikely that the retailers' preferred accounting method would be repealed. I have ...

Bookkeeping essentials: once an accounting method is in use, IRS approval...

Gifts & Decorative Accessories;  April 1, 2004 ;     700+ words ......retailers using this rudimentary cash accounting method have discovered that it's not easy...owner of manager can change their accounting method to reap the maximum benefit, increase...however, utilizing the most efficient accounting method can mean long-term savings--both...

Adherence to utility regulations is an accounting method.

The Tax Adviser;  March 1, 2002 ;     700+ words ......utility had chosen an accounting method when it characterized...repair expenses using the accounting method required for regulatory...following the ICC rules was an accounting method for tax purposes. In FPL...

Updated and revised mass automatic accounting method procedure issued.(IRS...

The Tax Adviser;  March 1, 1999 ;     700+ words ......obtaining automatic consent to an accounting method change. The revised guidance supersedes...want to make an automatic change in accounting method for a tax year ending on or after...modifying the scope of the depreciation accounting method change. Further, several minor ...

New procedures for accounting method changes.

The Tax Adviser;  December 1, 1992 ;     700+ words ......the procedures for requesting accounting method changes on or after Mar. 23...generally request a change in accounting method by filing Form 3115, Application for Change in Accounting Method, within 180 days after the beginning...

Change of accounting method for treatment of a single item.

The Tax Adviser;  August 1, 1994 ;     540 words ......practitioners believe an accounting method change involves a change...used. Consent to change an accounting method is generally done by filing...Application for Change in Accounting Method, with the IRS National Office...

Guidance on accounting method changes for intangibles.

The Tax Adviser;  June 1, 2004 ;     700+ words ......obtaining automatic consent to change an accounting method provided in the recently published...Accordingly, a taxpayer may change its accounting method automatically to comply with the...Forms 3115, Application for Change in Accounting Method, from taxpayers requesting consent...

IRS initiated accounting method changes.

The Ohio CPA Journal;  July 1, 1999 ;     700+ words ......change its method of accounting (see Accounting Method Changes, Journal of Accountancy...Form 3115, Application for Change in Accounting Method. The IRS recently issued Notice 98-...penalties. A change in an entity's accounting method is a change in its overall plan of...

New rules for requesting accounting method changes.

The Tax Adviser;  September 1, 1997 ;     700+ words ......deadline far filing applications for accounting method changes. Regs. Secs. 1.446-(e)(3...Form 3115, Application for Change in Accounting Method, with the Service in the first 180...procedures for requesting permission for accounting method changes; this revenue procedure modifies...

Accounting Method Yields Bigger Deficit

AP Online;  February 27, 2004 ;     225 words ......Dateline: WASHINGTON The federal government, if it used an accounting method preferred by Federal Reserve Chairman Alan Greenspan, would...when payments are made. Greenspan has said this accrual accounting method provides a better picture of the government's obligations...