Section 025. Taxable Year And Accounting Period (Rule 025)

Section 63-3010, Idaho Code 01. In General. A taxpayer will file his Idaho return for the same taxable year as filed for federa l income tax purposes. If a federal return is not filed, the taxable year will be the taxable year required by the Interna l Revenue Code, any other period that may be required by law, or the calendar year. Taxable year generally corresponds to the taxpayer’s annual accounting period unless a short-period return is required. (4-6-23) 02. Change of Accounting Period. (4-6-23) a. If a taxpayer changes his accounting period for federal income tax purposes, he will make the sam e change for the same period for Idaho income tax purposes. If prior approval of the Commissioner of the Internal Revenue Service is required, a copy of that approval will accompany the Idaho short-period return. (4-6-23) b. If a change does not require prior approval of the Commissioner of the Internal Revenue Service , the change will be noted on the Idaho short-period return, along with a statement that no prior approval was require d and the authority cited. (4-6-23) 026. -- 029. (RESERVED)