Press Room

December 14, 2009

Exploring Accounting Method Changes

On November 6, 2009, Congress enacted the Worker, Homeownership, and Business Act of 2009 (“the Act”) that allows all businesses a five-year period for carrying back net operating losses.

In 2008 and 2009, IRS issued two revenue procedures (Rev. Proc. 2008-52 and Rev. Proc. 2009-39) that add to an already lengthy list of automatic tax accounting method changes. What do these two disparate developments have to do with one another? In short, a great deal…

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