SECTION 7. EFFECTIVE DATE

This revenue procedure is effective for taxable years ending on or after December 31, 2007. The Service will not challenge a taxpayer’s use of the safe harbor method of accounting described in this revenue procedure on a federal income tax return filed before March 11, 2008, if the taxpayer meets the requirements of this revenue procedure in that taxable year. Moreover, if the taxpayer’s use of the safe harbor method on a federal income tax return filed before March 11, 2008, is an issue under consideration in examination, appeals,

March 31, 2008 688 2008–13 I.R.B.