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Introduction›Part III. Administrative, Procedural, and Miscellaneous

SECTION 3. SCOPE

Internal Revenue Bulletin 1997-10 · 2026-10-03 edition · updated 2026-10-04 · United States

This revenue procedure applies to any bank as defined in § 581 (except any large bank as defined in § 585(c)(2)) that seeks to change its method of accounting for bad debts from the § 585 reserve method to the § 166 specific charge-off method, effective for its first tax year beginning after December 31, 1996 (1997 tax year), in order to elect S corporation status for its 1997 tax year.

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▸Contents — Internal Revenue Bulletin 1997-10
Internal Revenue Bulletin 1997-10

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