SECTION 3. SCOPE

This revenue procedure applies to eligible partnerships (described in section 3.01 of this revenue procedure) that elect the Monthly Closing Election and to partners that consent (described in section 6 of this revenue procedure) to take into account their distributive shares of partnership income on a monthly basis. In addition, section 9 of this revenue procedure applies to all eligible partnerships, whether or not they make the monthly closing election.

26 CFR 601.105: Examination of returns and claims for refund, credit, or abatement; determina- tion of correct tax liability. (Also Part I, §§ 103, 702, 704, 706, 707, 761, 1.441–2T, 1.706–1, 1.761–2, 301.7701–4.)

Rev. Proc. 2002–68