Section 585(c) of the Internal Revenue Code requires large banks to change from the reserve method of accounting to the specific charge off method of accounting for bad debts. The information required by section 1.585-8 of the regulations identifies any election made or revoked by the taxpayer in accordance with section 585(c).
The latest form for TD 8513 - Bad Debt Reserves of Banks expires 2022-02-28 and can be found here.
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Supporting Statement A |