SECTION 6. UNIFORM

CAPITALIZATION (UNICAP) CHANGES UNDER REV. PROC. 2002–9

.01 This section 6 modifies sections 4.01(1) through 4.01(4) and 4.02 of the Appendix of Rev. Proc. 2002–9, as modified and clarified by Announcement 2002–17. The entire text of these provisions are set forth as a convenience. However, changes to the existing text of these provisions are limited to sections 4.01(1)(a)(vi), 4.01(1)(b), 4.01(1)(c), the heading of 4.02, 4.02(1), and 4.02(2). .02 Sections 4.01(1) through 4.01(4) of the Appendix of Rev. Proc. 2002–9 are modified to read as follows:

“.01 Certain uniform capitalization (UNICAP) methods used by small resell- ers, formerly small resellers, and reseller- producers.

defer the year of change to the first taxable year ending on or after December 31, 2001, in order to take advantage of the 1-year § 481(a) adjustment period. To do so, the taxpayer must notify the national office, prior to the later of December 13, 2002, or the issuance of the letter ruling granting or denying the requested change, of its intent to defer the year of change. The taxpayer must submit any additional information requested by the national office.

.02 Modifications to Pending Applica- tions. Section 4.04(2) of Rev. Proc. 2002–19 provides in part that the national office will require taxpayers with method change applications under Rev. Proc. 97–27 for a year of change ending on or after December 31, 2001, that are pending with the national office on March 14, 2002, to make “appropriate modifications” to the application to comply with the provisions of Rev. Proc. 2002–19 (namely, the 1-year § 481(a) adjustment period). The national office will notify taxpayers if and when such adjustments are required. Absent such notification, no further submissions are required.