U.S. Code » Title 26 » Subtitle Subtitle A— Income Taxes › Chapter CHAPTER 1— NORMAL TAXES AND SURTAXES › Subchapter Subchapter E— Accounting Periods and Methods of Accounting › Part PART I— ACCOUNTING PERIODS

26 U.S.C. § 442

Change of annual accounting period

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If a taxpayer changes his annual accounting period, the new accounting period shall become the taxpayer’s taxable year only if the change is approved by the Secretary. For purposes of this subtitle, if a taxpayer to whom section 441(g) applies adopts an annual accounting period (as defined in section 441(c)) other than a calendar year, the taxpayer shall be treated as having changed his annual accounting period.

Notes of Decisions
Cited in 5 cases, 1935–1996 · leading case: Paul D. Dunlap and Shirley A. Dunlap, Hawkeye Bancorporation v. Commissioner of Internal Revenue
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Paul D. Dunlap and Shirley A. Dunlap, Hawkeye Bancorporation v. Commissioner of Internal Revenue (1982) ca8 “In proceedings in the tax court contesting the deficiencies in Hawkeye’s 1973 federal income tax return, see 26 U.S.C. § 442 , the tax court ruled that the option had lapsed and allowed the loss deduction.”
New York Shipbuilding Corporation v. United States (1966) ca3 “A strike from August 8,1947 through October 17, 1947 was ruled an event “unusual and peculiar in the experience of such taxpayer,” 26 U.S.C. § 442 (a) (1), so as to qualify appellee for a recomputation upward of its average base period net income, which resulted in a diminution…”
New York Shipbuilding Corp. v. United States (1965) njd “26 U.S.C. § 442 . “Average base period net income — abnormalities during base period.”
Glenwood Cooperative, Inc. v. United States (1996) cafc “26 U.S.C. § 442 . The Commissioner exercises that authority by imposing conditions on tax year changes to prevent taxpayers from using those changes to distort income and gain tax benefits that would otherwise not be available.”
Fresno Grape Products Corp. v. United States (1935) cc “We attach no importance to the fact that Congress in section 451 of the Revenue Act of 1928 (26 USCA § 442) added a provision to section 611 of the Revenue Act of 1918 that wine might be “sold or removed tax free for the manufacture of vinegar, or for the production of…”
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