{"data":{"id":"us/26-cfr-1.472-5","jurisdiction":"us","citation":"26 CFR 1.472-5","heading":"-5 Revocation of election.","body":"An election made to adopt and use the LIFO inventory method is irrevocable, and the method once adopted shall be used in all subsequent taxable years, unless the use of another method is required by the Commissioner, or authorized by him pursuant to a written application therefor filed as provided in paragraph (e) of § 1.446-1.","path":["Title 26—Internal Revenue","CHAPTER I—INTERNAL REVENUE SERVICE, DEPARTMENT OF THE TREASURY","SUBCHAPTER A—INCOME TAX","PART 1—INCOME TAXES"],"source_url":"https://www.ecfr.gov/api/versioner/v1/full/2026-08-25/title-26.xml","current_through":"2026-08-25","vintage":"","retrieved_at":"2026-08-27T02:25:11Z","sha256":"a987c7c0dd8fd3a4186a3f1980ed64dd9217f187d1703efa2198ddb16333752e","source_id":"us-cfr","stale":true,"prev":"us/26-cfr-1.472-4","next":"us/26-cfr-1.472-6"},"notice":"GroundRules: Original legal text. Not legal advice."}