26 C.F.R. § 1.472-5
Revocation of election
An election made to adopt and use the LIFO inventory method is irrevocable, and the method once adopted shall be used in all subsequent taxable years, unless the use of another method is required by the Commissioner, or authorized by him pursuant to a written application therefor filed as provided in paragraph (e) of § 1.446-1.
Notes of Decisions
Cited in 1
case, 1986–1986 · leading case: Fischer Indus., Inc. v. Comm'r, 87 T.C. 116 (Tax Ct. 1986).
Fischer Indus., Inc. v. Comm'r, 87 T.C. 116 (Tax Ct. 1986). “), and, at least with respect to the LIFO election, there should be a strong judicial policy favoring a clear expression on the original return of the intent to make the *125 election.”
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.