Read the article Journal of Accountancy
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IRS Updates How Small Businesses Change The Accounting Methods
According to the Journal of Accountancy, the IRS has made it easier for small businesses to change their tax accounting methods.
Under guidance in Rev. Proc. 2022-9 issued Thursday, taxpayers may obtain the IRS's automatic consent to change their tax accounting methods to comply with final regulations relating to simpler tax accounting methods available to smaller businesses.
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