Table of Contents

• Announcement 2004-48
  • PURPOSE
  • BACKGROUND
  • CHANGES TO THE PROPOSED REVENUE PROCEDURE AND OTHER ISSUES
    • Allocations
    • Treatment Of Short Taxable Years
    • Acceleration Of Income
    • Definition Of “Applicable Financial Statement”
    • Statistical Sampling
    • Items Not Eligible For Deferral As Advance Payments
    • Credit Card Fees
    • Insurance Premiums
    • Advance Rentals
    • Other Excluded Items
    • Method Change Issues
    • Record Keeping
    • COGS
    • Effective Date
  • DRAFTING INFORMATION
• Announcement 2004–49
  • Consent Disbarments From Practice Before the Internal Revenue Service
  • Consent Suspensions From Practice Before the Internal Revenue Service
  • Expedited Suspensions From Practice Before the Internal Revenue Service
  • Censure Issued by Consent
• Announcement 2004-50