bulletin Internal Revenue›Rev. Proc. 90-63, 1990-2 C.B. 664, is

SECTION 9. INVENTORIES (§ 471)

Internal Revenue Bulletin 1997-33 · 2026-10-03 edition · updated 2026-10-04 · United States

.01 Cash discounts — Description of change and scope. This change applies to a taxpayer that wants to change its method of accounting for cash discounts (discounts granted for timely payment) when they approximate a fair interest rate, from a method of consistently including the price of the goods before discount in the cost of the goods and including in gross income any discounts taken (the “gross invoice method”), to a method of reducing the cost of the goods by the cash discounts and deducting as an expense any discounts not taken (the “net invoice method”), or vice versa. See Rev. Rul. 73–65, 1973–1 C.B. 216.

.02 Reserved.

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▸Contents — Internal Revenue Bulletin 1997-33

Internal Revenue Bulletin 1997-33

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