Changes in Periods of Accounting

This previously approved Revenue Procedure's 2006-45 (modified and clarified by 2007-64), 2006-46, and 2002-39 (modified by 2003-79) provide the comprehensive administrative rules and guidance for affected taxpayers adopting, changing, or retaining annual accounting periods, for federal income tax purposes. In order to determine whether a taxpayer has properly adopted, changed to, or retained an annual accounting period, certain information regarding the taxpayer’s qualification for and use of the requested annual accounting period is required. The revenue procedures request the information necessary to make that determination when the information is not otherwise available. The only collection of information being reported under this ICR is the information in Revenue Procedure 2002-39. The burden under Revenue Procedure 2006-45 and 2006-46 are being reported under their respective forms (1545-0134 and 1545-0123).

The latest form for Changes in Periods of Accounting expires 2021-04-30 and can be found here.