26 C.F.R. § 1.472-5. - § 1.472-5 Revocation of Election.

Current as of January 1, 1970

Section 1.472-5 - § 1.472-5 Revocation of Election.Section 1.472-5 - § 1.472-5 Revocation of Election.

Section 1.472-4 - § 1.472-4 Adjustments to Be Made by Taxpayer.Section 1.472-6 - § 1.472-6 Change From Lifo Inventory Method.

§ 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.

[T.D. 6500, 25 FR 11730, Nov. 26, 1960]

Disclaimer. This may not be the most current version of this information. Users should consult official sources to verify information on this site is recent and current. Marble does not warrant or represent the accuracy, completeness or reliability of the information contained on this site.