If a small business, under $10,000 in goss receipts wants to change from the accural accounting system to the cash accounting system do they have to have the permission of the IRS first?
Cash accounting irs?credit rating
No, you don%26#039;t need permission first. However, you do need to file two copies of form 3115 (one with your tax return and one separately) to get the IRS%26#039;s automatic consent. The procedures in Rev. Proc. 2002-9 need to be followed.
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