On Tuesday, April 30, the IRS provided a comprehensive, updated list of changes in tax accounting methods, including the application of automatic change procedures.
Rev. Proc. 2024-23 arranges the method changes in 32 sections by code section, covering a broad array of tax accounting methods.
The revenue procedure makes 21 significant changes to the list of automatic changes. It describes the method changes in each case, including their applicability.
Rev. Proc. 2024-23 is generally effective for Forms 3115 filed on or after April 30, 2024, for a year of change ending on or after Sept. 30, 2023. Learn more.