SECTION 1. PURPOSE

This revenue procedure modifies the procedures in Rev. Proc. 2011–14, 2011–4 I.R.B. 330, and Rev. Proc. 2014– 17, 2014–12 I.R.B. 661, regarding certain changes in method of accounting for dispositions of tangible depreciable property. This revenue procedure 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 §§ 1.168(i)–1, 1.168(i)–7, and 1.168(i)–8 of the Income Tax Regulations. This revenue procedure also allows a late partial disposition election under § 1.168(i)–8 to be treated as a change in method of accounting for a limited period of time. Finally, this revenue procedure also modifies section 10.11 of the APPENDIX of Rev. Proc. 2011–14 regarding a change to the method of accounting described in Rev. Proc. 2014–16, 2014–9 I.R.B. 606,

for amounts paid to acquire, produce, or improve tangible property.