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SECTION 2. COMMODITY CREDIT

Internal Revenue Bulletin 2011-4 · 2026-10-03 edition · updated 2026-10-04 · United States

LOANS (§ 77)

.01 Treating amounts received as loans . (1) Description of change . This change applies to a taxpayer that wants to change its method of accounting for loans received from the Commodity Credit Corporation from including the loan amount in gross income for the taxable year in which the loan is received to treating the loan amount as a loan.

(2) Scope limitations inapplicable . The scope limitations in section 4.02 of this revenue procedure do not apply to this change.

(3) Manner of making change . This change is made on a cut-off basis and applies only to loans received from the Commodity Credit Corporation on or after the beginning of the year of change. See section 2.06 of this revenue procedure for more information regarding a cut-off basis. Accordingly, a § 481(a) adjustment is neither permitted nor required.

(4) Designated automatic accounting method change number . The designated automatic accounting method change number for a change under section 2.01 of this APPENDIX is “1.” See section 6.02(4) of this revenue procedure. (5) Contact information . For further information regarding a change under this section, contact William Ruane at 202–622–4920 (not a toll-free call).

.02 Reserved .

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▸Contents — Internal Revenue Bulletin 2011-4
Internal Revenue Bulletin 2011-4

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