PPQ Inc. wants to change from a hybrid method of accounting to the accrual method of accounting for tax purposes. PPQ can't make this change without receiving permission from the IRS.

Question

Quizplus · Accepted Answer

This is true. A business cannot change their method of accounting without receiving approval from the IRS. The IRS has specific rules and procedures for requesting a change of accounting method.

PPQ Inc Wants to Change from a Hybrid Method of Accounting