Federal · Title 26 — Internal Revenue Code
26 U.S.C. § 859: Adoption of annual accounting period
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a real estate investment trust shall not change to any accounting period other than the calendar year, and a corporation, trust, or association may not elect to be a real estate investment trust for any taxable year beginning after October 4, 1976 , unless its accounting period is the calendar year. Notwithstanding section 442, an entity which has not engaged in any active trade or business may change its accounting period to a calendar year without the approval of the Secretary if such change is in connection with an election under section 856(c).
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