SECTION 3. HOW THIS REVENUE

PROCEDURE DIFFERS FROM REV. PROC. 2004–23

.01 Rev. Proc. 2004–23 applies to a taxpayer’s first taxable year ending on or after December 31, 2003. This revenue procedure applies to a taxpayer’s second taxable year ending on or after December 31, 2003. .02 Rev. Proc. 2004–23 waives the scope limitations in section 4.02 of Rev. Proc. 2002–9. This revenue procedure does not waive those limitations.

.03 Rev. Proc. 2004–23 does not require taxpayers to complete many of the lines in Part II of Form 3115. Because this revenue procedure does not waive the scope limitations of Rev. Proc. 2002–9, this revenue procedure requires taxpayers to complete more of the lines in Part II of Form 3115. See section 5.02(2)(d) of this revenue procedure.