bulletin Internal Revenue›Rev. Proc. 90-63, 1990-2 C.B. 664, is
SECTION 7. EFFECT OF AND
Internal Revenue Bulletin 1997-33 · 2026-10-03 edition · updated 2026-10-04 · United States
REVOCATION OF ELECTION
The election of the service warranty in
come method under this revenue procedure constitutes a change to or adoption of a method of accounting. Because the service warranty income method constitutes a method of accounting, an electing taxpayer must use that method for all its qualified advance payment amounts on service warranty contracts described in section 4.01 of this revenue procedure. The election of the service warranty income method may only be revoked with the consent of the Commissioner. Thus, to request revocation of an election under this revenue procedure, a taxpayer must apply to the Commissioner to change its method of accounting under the procedures prescribed in Rev. Proc. 97–27, 1997–21 I.R.B. 10.
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