EYUS IRS modifies guidance on accounting method changes for certain foreign corporations
|Tax Alerts, National/Federal Taxation, I ...|United States
In Revenue Procedure 2021-26, the United States (US) Internal Revenue Service (IRS) establishes procedures under Internal Revenue Code1 Section 446(e) for certain foreign corporations to obtain automatic consent to change their method of accounting to the alternative depreciation system (ADS) under Section 168(g). The revenue procedure also: (i) provides additional terms and conditions applic…
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