In Rev. Proc. 2023-24, the IRS has provided a comprehensive, updated list of changes in tax accounting methods to which the automatic change procedures in Rev. Proc. 2015-13, as subsequently modified, apply.
Rev. Proc. 2015-13 itself updated and revised prior general procedures under Sec. 446(e) to obtain the IRS’s consent to obtain automatic and advance nonautomatic consent to change a method of accounting.
The IRS arranged the method changes in Rev. Proc. 2023-24 in 32 sections by Code section, covering a broad array of tax accounting methods.
The revenue procedure makes almost 30 significant changes to the list of automatic changes, many related to depreciation and amortization or uniform capitalization methods. Learn more.