SECTION 1. PURPOSE

This revenue procedure provides the procedures by which a taxpayer may obtain automatic consent for a change in method of accounting described in the APPENDIX of this revenue procedure. This revenue procedure amplifies, clarifies, modifies, and supersedes Rev. Proc. 2008–52, 2008–2 C.B. 587, as amplified, clarified, and modified by Rev. Proc. 2009–39, 2009–38 I.R.B. 371, and provides additional changes in methods of accounting for which a taxpayer may obtain automatic consent.

A taxpayer complying with all the applicable provisions of this revenue procedure obtains the consent of the Commissioner of Internal Revenue to change its method of accounting under § 446(e) of the Internal Revenue Code and the Income Tax Regulations thereunder.

This revenue procedure also modifies Rev. Proc. 97–27, 1997–1 C.B. 680, as amplified and modified by Rev. Proc. 2002–19, 2002–1 C.B. 696, as amplified

and clarified by Rev. Proc. 2002–54, 2002–2 C.B. 432, as modified by Rev. Proc. 2007–67, 2007–2 C.B. 1072, and as clarified and modified by Rev. Proc. 2009–39, which provides the general procedures for obtaining the advance (non-automatic) consent of the Commissioner to change a method of accounting.

Section 16 of this revenue procedure lists the significant changes to Rev. Proc. 2008–52 and Rev. Proc. 97–27.