The Internal Revenue Service has released a new revenue procedure that expands the waiver of eligibility rules for accounting method changes for some research or experimental expenses.
These regulations are for automatic consent of the IRS to change methods of accounting for research or experimental expenditures paid or incurred in taxable years beginning after Dec. 31, 2021.
The rev proc expands the waiver of the eligibility rules in Section 5.01(1)(d) and (f) of Rev. Proc. 2015-13 to accounting method changes described in Section 7.01 of Rev. Proc. 2024-23 that are made for any taxable year beginning in 2022, 2023 or 2024.
This rev proc also permits a taxpayer to make a change under Section 7.01 of Rev. Proc. 2024-23 regardless of whether the taxpayer made a change for the same item for any other taxable year beginning in 2022, 2023 or 2024.
The rev proc will be effective for Forms 3115, "Application for Change in Accounting Method," filed on or after public release of Rev. Proc. 2025-08, which will be in the Internal Revenue Bulletin on Jan. 21.
