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Regulation and Compliance > Federal Regulation > IRS

IRS Collects Accounting Change Rules

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The Internal Revenue Service has published a guide to getting automatic IRS consent for changes in accounting methods.

The guide, given in IRS Revenue Procedure 2008-52, includes sections on topics such as changes involve the “loss disallowance rule upon a disposition of an insurance contract acquired in an assumption re-insurance transaction” and “insurance company premium acquisition expenses.”

The guide also includes sections on accounting rule changes involving defined contribution retirement plans.


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