RP-2019-30, insurance company change in method of accounting
Internal Revenue Service (IRS) sent this bulletin at 07/22/2019 03:15 PM EDT
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Issue Number: RP 2019-30Inside This IssueRevenue Procedure 2019-30 provides simplified procedures for an insurance company to obtain automatic consent of the Commissioner of Internal Revenue to change its methods of accounting for discounting unpaid losses and expenses unpaid, estimated salvage recoverable, and unearned premiums attributable to title insurance, as applicable, to comply with § 846, as amended by section 13523 of the Tax Cuts and Jobs Act, Public Law 115-97 (131 Stat. 2054, 2152) for taxable years beginning after December 31, 2017, and ending on or before December 31, 2019. Thank you for subscribing to IRS GuideWire, an IRS e-mail service. If you are a Tax Professional and have a specific concern about your tax situation, call the IRS Practitioner Priority Service 1-866-860-4259. This message was distributed automatically from the IRS GuideWire mailing list. Please Do Not Reply To This Message. |