When the automatic change procedure of Rev. Proc. 94-49 applies. (uniform capitalization rules): An article from: The Tax Adviser

This digital document is an article from The Tax Adviser, published by American Institute of CPA's on April 1, 1995. The length of the article is 1385 words. The page length shown above is based on a typical 300-word page. The article is delivered in HTML format and is available in your Amazon.com Digital Locker immediately after purchase. You can view it with any web browser.

From the supplier: IRS Revenue Procedure 94-49 provides businesses with the opportunity to change choice of uniform capitalization rule accounting methods once without IRS consent. The option to modify accounting methods can be used to correct defects in the application of the uniform capitalization rules with audit protection for previous years and adjustments allowed over a four-year period. Taxpayers using last-in, first-out (LIFO) inventory accounting may need to apply the three-year averaging method to adjustments.

Citation Details
Title: When the automatic change procedure of Rev. Proc. 94-49 applies. (uniform capitalization rules)
Author: James E. Connor
Publication:The Tax Adviser (Magazine/Journal)
Date: April 1, 1995
Publisher: American Institute of CPA's
Volume: 26 Issue: n4 Page: 224(2)

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