Two new revenue procedures have been released, detailing how taxpayers may obtain IRS automatic consent when dealing with the treatment of tangible property repairs.

Each procedure separates and establishes accounting method changes in different categories.

Rev. Proc. 2012-19 addresses repair and maintenance, materials and supplies, and related method changes resulting from the temporary regulations.

Rev. Proc. 2012-20 addresses depreciation, disposition, and related method changes resulting from the temporary regulations.

Each accounting method change has separate detailed rules for implementing it. The changes share the requirement that the Form 3115, Application for Change in Accounting Method, be sent to the Ogden, Utah, office instead of the national office and the requirement to use a single form when making a concurrent automatic change.

The revenue procedures are effective for tax years beginning on or after Jan. 1, 2012.