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This digital document is an article from The Tax Adviser, published by American Institute of CPA's on May 1, 1993. The length of the article is 557 words. The page length shown above is based on a typical 300-word page. The article is delivered in HTML format and is available in your Amazon.com Digital Locker immediately after purchase. You can view it with any web browser.

From the supplier: Depreciation on property that was misclassified in prior year's returns could be changed through the use of Form 3115 and an IRC 481 adjustment until recently. The IRS is considering a change in policy to deny this because the adjustment and change in accounting method permitted the allowable depreciation to affect the basis in the property in closed and open tax years. A new policy would allow access to open years by filing an amended tax return instead.

Citation Details
Title: Accounting method change for depreciation attributable prior misclassification of property.
Author: Lorin D. Luchs
Publication:The Tax Adviser (Magazine/Journal)
Date: May 1, 1993
Publisher: American Institute of CPA's
Volume: 24 Issue: n5 Page: 291(1)

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