SECTION 1. PURPOSE

This revenue procedure modifies the procedures in Rev. Proc. 2012–19,

Resident Population Figures

Missouri 6,044,171

Montana 1,015,165

Nebraska 1,868,516

Nevada 2,790,136

New Hampshire 1,323,459

New Jersey 8,899,339

New Mexico 2,085,287

New York 19,651,127

North Carolina 9,848,060

North Dakota 723,393

Northern Mariana 51,170 Islands

Ohio 11,570,808

Oklahoma 3,850,568

Oregon 3,930,065

Pennsylvania 12,773,801

Puerto Rico 3,615,086

Rhode Island 1,051,511

South Carolina 4,774,839

South Dakota 844,877

Tennessee 6,495,978

Texas 26,448,193

Utah 2,900,872

Vermont 626,630

Virginia 8,260,405

Virgin Islands, U.S. 104,737

Washington 6,971,406

West Virginia 1,854,304

Wisconsin 5,742,713

Wyoming 582,658

February 24, 2014 606 Bulletin No. 2014–9

2012–14 I.R.B. 689, and Rev. Proc. 2011– 14, 2011–4 I.R.B. 330, regarding certain changes in method of accounting for amounts paid to acquire, produce, or improve tangible property. This revenue procedure supersedes Rev. Proc. 2012–19 and provides the procedures by which a taxpayer may obtain the automatic consent of the Commissioner of Internal Revenue to change to the methods of accounting provided in §§ 1.162–3, 1.162–4, 1.263(a)–1, 1.263(a)–2, and 1.263(a)–3 of the Income Tax Regulations and §§ 1.162–3T, 1.162–4T, 1.263(a)–1T, 1.263(a)–2T, and 1.263(a)–3T of the temporary regulations. This revenue procedure also modifies Rev. Proc. 2011–14 and provides the procedures by which a taxpayer may obtain the automatic consent of the Commissioner of Internal Revenue to change to a reasonable method described in § 1.263A–1(f)(4) for selfconstructed assets and to change to a permissible method of accounting under section 263A(b)(2) of the Internal Revenue Code and § 1.263A–3(a)(1) for certain costs related to real property acquired through foreclosure, by deed in lieu of foreclosure, or in another similar transaction. Finally, this revenue procedure also modifies section 3.09 of the APPENDIX of Rev. Proc. 2011–14 regarding a change to the method of accounting described in Rev. Proc. 2011–43, 2011–37 I.R.B. 326, for taxpayers in the business of transporting, delivering, or selling electricity.