Rev. Rul. 2004-52 holds that credit card annual
SECTION 5. CHANGE IN METHOD
Internal Revenue Bulletin 2004-22 · 2026-10-03 edition · updated 2026-10-04 · United States
OF ACCOUNTING
A taxpayer within the scope of this revenue procedure that wants to change its method of accounting for income from credit card annual fees, either to a method that satisfies the all events test in accordance with Rev. Rul. 2004–52 or to the Ratable Inclusion Method for Credit Card Annual Fees that is described in section 4 of this revenue procedure, must follow the provisions of Rev. Proc. 2002–9 (or its successor), with the following modifications:
.01 The scope limitations in section 4.02 of Rev. Proc. 2002–9 do not apply to a taxpayer that wants to make the change for either its first or second taxable year ending on or after December 31, 2003; and
.02 The taxpayer must prepare and file a Form 3115 in accordance with section 6 of Rev. Proc. 2002–9 and must enter the designated number for the automatic change in method in Line 1a of Form 3115.
(1) The designated number for the automatic accounting method change to in
information regarding this notice, contact Ms. Rotunno at (202) 622–7900 (not a toll-free number).
26 CFR 601.204: Changes in accounting periods and in methods of accounting. (Also: §§ 446, 451.)
Rev. Proc. 2004–32
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