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Introduction

SECTION 1. PURPOSE

Internal Revenue Bulletin 2008-10 · 2026-10-03 edition · updated 2026-10-04 · United States

This revenue procedure explains how a bank that changes from the reserve method of accounting for bad debts under § 585 of the Internal Revenue Code for its first taxable year for which an election under § 1362(a) is in effect may elect under § 1361(g) to take into account the resulting § 481(a) adjustment in determining taxable income for the immediately preceding taxable year.

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▸Contents — Internal Revenue Bulletin 2008-10
Internal Revenue Bulletin 2008-10

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