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TREAS/IRS RIN: 1545-BD81 Publication ID: Spring 2011 
Title: Update and Revision of Treasury Regulation Sections 1.381(c)(4) and (5)-1 
Abstract: The final regulations will focus on how to determine the principal accounting method; how taxpayers will procedurally change their accounting methods when they're not permitted to use or prefer not to use the principal accounting method; how taxpayers will reflect the difference in computing taxable income when they change their accounting methods; reconcile Treasury Regulation section 1.381(c)(4) language, terms, and conditions with Treasury Regulation section 1.381(c)(5); and reorder, simplify, and index Treasury Regulation sections 1.381 (c)(4) and (5). 
Agency: Department of the Treasury(TREAS)  Priority: Substantive, Nonsignificant 
RIN Status: Previously published in the Unified Agenda Agenda Stage of Rulemaking: Final Rule Stage 
Major: No  Unfunded Mandates: No 
CFR Citation: 26 CFR 1   
Legal Authority: 26 USC 381(c)(4) and 381(c)(5)    26 USC 7805   
Legal Deadline:  None
Timetable:
Action Date FR Cite
NPRM  11/16/2007  72 FR 64545   
NPRM Comment Period End  02/14/2008    
Final Action  12/00/2011    
Additional Information: REG-151884-03 Drafting attorney: Cheryl L. Oseekey (202) 622-4970 Reviewing attorney: Roy A. Hirschhorn (202) 622-4970 Treasury attorney: Eric Lucas (202) 622-0869 CC: ITA
Regulatory Flexibility Analysis Required: No  Government Levels Affected: None 
Small Entities Affected: No  Federalism: No 
Included in the Regulatory Plan: No 
RIN Data Printed in the FR: No 
Agency Contact:
Cheryl L. Oseekey
General Attorney
Department of the Treasury
Internal Revenue Service
1111 Constitution Avenue NW.,
Washington, DC 20224
Phone:202 622-4970
Email: cheryl.l.oseekey@irscounsel.treas.gov