U.S. IRS Practice Unit on Identifying and Handling Claims for Changes in Accounting Methods

The U.S. IRS has published a practice unit on Identifying and Handling Claims for Changes in Accounting Methods. The process overview of the practice unit includes the following:

This practice unit discusses how to determine whether a claim is a request for a change in accounting method and how you should handle the claim. Prior to using this practice unit, you should have knowledge of basic accounting method concepts and the voluntary change in accounting method procedures.

During an exam…