Rev. Proc. 2017-59, change in method of accounting

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Nov. 13, 2017

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Issue Number: RP-2017-59

Inside This Issue

Revenue Procedure 2017-59:
https://www.irs.gov/pub/irs-drop/rp-17-59.pdf

modifies Rev. Proc. 2015-13, 2015-5 I.R.B. 419, as clarified and modified by Rev. Proc. 2015-33, 2015-24 I.R.B. 1067, and as modified by Rev. Proc. 2016-1, 2016-1 I.R.B. 1. Rev. Proc. 2015-13 provides procedures for obtaining the consent of the Commissioner of Internal Revenue to change a method of accounting for federal income tax purposes. With respect to elections under § 404A of the Internal Revenue Code, which are treated as changes in method of accounting for purposes of § 481, this revenue procedure specifies the § 481 adjustment period.

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