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A taxpayer receives permission for a voluntary change in accounting method, resulting in a negative adjustment to income. The taxpayer would like to recognize the
A taxpayer receives permission for a voluntary change in accounting method, resulting in a negative adjustment to income. The taxpayer would like to recognize the full negative adjustment in the current year in order to maximize tax savings and time value of money. In order to recognize the full adjustment this year, the adjustment must not exceed $25,000. $10,000. $3,000.
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