Question: Concerning changes to accounting methods: a. The IRS generally allows the taxpayer to spread a positive adjustment into future years for voluntarily changes from incorrect
Concerning changes to accounting methods: a. The IRS generally allows the taxpayer to spread a positive adjustment into future years for voluntarily changes from incorrect methods. b. The IRS will not require a change unless the net adjustment is positive. c. For required changes, if the adjustment is > $3,000, the taxpayer can elect to calculate tax by spreading adjustment over one or more previous years. d. All of the above statements are correct.
Step by Step Solution
There are 3 Steps involved in it
Get step-by-step solutions from verified subject matter experts
