Question: The Internal Revenue Code requires book conformity with respect to accounting methods per IRC section 446(a). So does a taxpayer have any latitude in choice

The Internal Revenue Code requires book conformity with respect to accounting methods per IRC section 446(a).

So does a taxpayer have any latitude in choice of method of accounting? Or does the book method of accounting dictate the tax method of accounting?

Please explain choices available to a taxpayer in choice of method of accounting. How might a taxpayer meet this conformity requirement? Please explain your analysis thoroughly and cite to authority to support your answer.

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