26 C.F.R. § 1.472-4
Adjustments to be made by taxpayer
A taxpayer may not change to the LIFO method of taking inventories unless, at the time he files his application for the adoption of such method, he agrees to such adjustments incident to the change to or from such method, or incident to the use of such method, in the inventories of prior taxable years or otherwise, as the district director upon the examination of the taxpayer's returns may deem necessary in order that the true income of the taxpayer will be clearly reflected for the years involved.
Notes of Decisions
Cited in 1
case, 1998–1998 · leading case: Consol. Mfg. v. Comm'r, 111 T.C. 1 (Tax Ct. 1998).
Consol. Mfg. v. Comm'r, 111 T.C. 1 (Tax Ct. 1998). “6110(j)(3), involved an adjustment proposed by the District Director pursuant to sec.”
Annotations are extracted automatically from the opinions in the
Syfert caselaw corpus and ranked by authority, recency, and
treatment. Dots show Syfertize treatment of the citing case itself.