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Introduction

SECTION 2. COMMODITY CREDIT

Internal Revenue Bulletin 2015-5 · 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 each loan is received to treating each loan amount as a loan.

(2) Certain eligibility rule inapplica- ble . The eligibility rule in section 5.01(1)(f) of Rev. Proc. 2015–13, 2015–5 I.R.B. 419, does 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. Accordingly, a § 481(a) adjustment is neither permitted nor required.

(4) Designated automatic accounting method change number . The designated

Bulletin No. 2015–5 455 February 2, 2015

automatic accounting method change number for a change under this section 2.01 is “1.” (5) Contact information . For further information regarding a change under this section, contact William Ruane at (202) 317-4718 (not a toll-free number). .02 Reserved .

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▸Contents — Internal Revenue Bulletin 2015-5
Internal Revenue Bulletin 2015-5

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