The Internal Revenue Service is proposing procedures for how a taxpayer can ask for automatic consent to change an accounting method in preparation for the Financial Accounting Standards Board’s new revenue recognition standard.
Notice 2017-17 requests comments on a proposed revenue procedure that, if finalized, would provide procedures for how a taxpayer might request automatic consent from the IRS to change a method of accounting for recognizing income when the change is made for the same taxable year as the taxpayer adopts the new revenue recognition standard.
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