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IRS Grants Automatic Consent for "Section 118" Accounting Method Changes


by Dwight N. Mersereau View Biography
Patricia J. Sweeney View Biography
James L. Atkinson View Biography
Marc J. Gerson View Biography
Miller & Chevalier Chartered View Firm Credentials
Washington Office

September 12, 2008

Previously published on August 25, 2008

In Rev. Proc. 2008-52, 2008-36 I.R.B. (Aug. 18, 2008), the Internal Revenue Service has granted "automatic consent" for taxpayers to change their methods of accounting under section 118 with respect to non-shareholder contributions to capital.


 

The views expressed in this article are solely the views of the author and not Martindale-Hubbell. This article is intended for informational purposes only and is not legal advice or a substitute for consultation with a licensed legal professional in a particular case or circumstance.




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