RP-2018-56, change in methods of accounting

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Nov. 19, 2018

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Issue Number: RP-2018-56

Inside This Issue

Rev. Proc. 2018-56 provides the procedures by which a taxpayer may obtain the automatic consent of the Commissioner of Internal Revenue to change to certain methods of accounting provided in §§ 1.263A-1, -2, and -3 of the Income Tax Regulations, including methods described in T.D. 9843, for costs allocable to certain property produced or acquired for resale by the taxpayer. This revenue procedure modifies Rev. Proc. 2018-31, 2018-22 I.R.B 637.

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