Revenue Procedure 2024-09, Changes in accounting periods and in methods of accounting.

Revenue Procedure 2024-09 modifies sections 7 and 19 of Rev. Proc. 2023-24 to provide procedures under § 446 and § 1.446-1(e) to obtain automatic consent of the Commissioner to change methods of accounting for expenditures paid or incurred in taxable years beginning after December 31, 2021, to rely on interim guidance under §§ 174 and 460 provided in Notice 2023-63. This revenue procedure also clarifies section 9 of Rev. Proc. 2023-24 to provide that section 5 of Rev. Proc. 2000-50 is obsoleted for costs of developing computer software paid or incurred in any taxable year beginning after December 31, 2021, and continues to apply to costs of developing computer software paid or incurred in any taxable year beginning on or before December 31, 2021.

Revenue Procedure 2024-09 will be in RB: 2024-3, dated January 16, 2024

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