§ 1.472-4. Adjustments to be made by taxpayer.
96 words·~1 min read·
/us/cfr/t26/s§ 1.472-4·A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
A taxpayer may not change to the LIFO method of taking inventories unless, at the time he files his application for the adoption of such method, he agrees to such adjustments incident to the change to or from such method, or incident to the use of such method, in the inventories of prior taxable years or otherwise, as the district director upon the examination of the taxpayer's returns may deem necessary in order that the true income of the taxpayer will be clearly reflected for the years involved. [T.D. 6500, 25 FR 11730, Nov. 26, 1960]
Connections1 off-index
1 reference not yet in our index
- T.D. 6500
Citation graph
cites case law
§ 1.472-4
Adjustments to be made by taxpayer.
Treas. Dec.T.D. 6500
Cites 1Cited by 0 across 0 sources