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Washington Tax Alert August 2, 2012 (automatic accounting method changes)

Washington Tax Alert from Don Barnes, [email protected]

August 2, 2012

The IRS National Office recently issued a private letter ruling (PLR 201224005) in which it permitted a taxpayer to make automatic accounting method changes for a tax year even though the taxpayer prepared the Forms 3115 before filing its tax return for the prior tax year. The National Office was not troubled by the taxpayer’s intentional one-year delay in implementing the automatic accounting method changes.