26 CFR 1.472-4
§ 1.472-4 Adjustments to be made by taxpayer.
United States · 26 CFR — Internal Revenue · Status: effective
Cite this
- Citation
- 26 CFR 1.472-4, § 1.472-4 Adjustments to be made by taxpayer, United States, version 1 as recorded 2026-07-09, yourstate.us, https://yourstate.us/provision/110226
- Permanent ID
ys:prov:110226@1- SHA-256
8861e965e08fbebb57b7185347a221465d19c157e99a36ad57b05829c4821bd0
The hash is SHA-256 of this version's text, with every run of whitespace collapsed to a single space and the ends trimmed. The ID always leads back here, and checking it says whether the text you cited is still the current version.
Full text
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.
Legislative history
This is a federal regulation, adopted through agency rulemaking under the Administrative Procedure Act — not enacted by a recorded vote of Congress.