LIFO Conformity Requirement

OMB 1545-1559

Revenue Procedure 97-44 permits automobile dealers that comply with the terms of the revenue procedure to continue using the LIFO (Last-in first-out) inventory method despite previous violations of the LIFO conformity requirements of section 472(c) or (e)(2). Revenue Procedure 98-46 modifies Revenue Procedure 97-44 by allowing medium-and heavy-duty truck dealers to take advantage of the favorable relief provided in Revenue Procedure 97-44.

The latest form for LIFO Conformity Requirement expires 2023-01-31 and can be found here.

Latest Forms, Documents, and Supporting Material

Document Name
rp98-46.pdf Supplementary Document
Rp97-44.pdf Supplementary Document
2019-10-31_SS_1545-1559rKD.doc Supporting Statement A
Revenue Procedures 98-46 and 97-44, LIFO Conformity Requirement

All Historical Document Collections

201909-1545-024 Approved without change	Extension without change of a currently approved collection	2019-12-27
201608-1545-014 Approved without change	Extension without change of a currently approved collection	2016-08-31
201306-1545-052 Approved without change	Extension without change of a currently approved collection	2013-06-27
201003-1545-025 Approved without change	Extension without change of a currently approved collection	2010-03-30
200611-1545-050 Approved without change	Extension without change of a currently approved collection	2007-01-12
200312-1545-009 Approved without change	Extension without change of a currently approved collection	2003-12-12
200012-1545-019 Approved without change	Extension without change of a currently approved collection	2000-12-18
199808-1545-057 Approved without change	No material or nonsubstantive change to a currently approved collection	1998-08-24
199712-1545-012 Approved without change	Extension without change of a currently approved collection	1997-12-11
199709-1545-018 Approved without change	New collection (Request for a new OMB Control Number)	1997-09-18