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29 August 2024

IRS modifies procedures for automatic change of accounting method for research and experimental expenses

The IRS in Revenue Procedure 2024-34 modifies the procedures under IRC Section 446 and Treas. Reg. Section 1.446-1(e) for obtaining automatic consent to change methods of accounting for research or experimental expenditures paid or incurred in tax years beginning after December 31, 2021. A Tax Alert is forthcoming.

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Published by NTD’s Tax Technical Knowledge Services group; Chris DeZinno, legal editor

Document ID: 2024-1620

 

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