# Enrolled Agent Exam [Part 2] 34, Tax Year Changes — Form 1128

Page: https://stenobird.com/podcast/finance-exam-prep-7658413/enrolled-agent-exam-part-2-34-tax-year-changes-form-1128
Text version: https://stenobird.com/podcast/finance-exam-prep-7658413/enrolled-agent-exam-part-2-34-tax-year-changes-form-1128.md
Podcast: [Finance Exam Prep](https://stenobird.com/podcast/finance-exam-prep-7658413)
Published: 2026-05-31T22:41:20+00:00
Episode link: https://open-exam-prep.com/
Audio file: https://episodes.captivate.fm/episode/d746baca-c7a9-47c3-a0f2-8647923289f2.mp3
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Duration seconds: 207

## Resource

This podcast is made by Ran Chen, who holds an EA license, Insurance and Securities licenses (Series 6, 63, 65), and the CFP® designation. He is passionate about opening access to high-quality exam preparation resources and helping learners prepare more effectively for professional certification exams. In this episode you will learn: - Why IRS approval, requested via Form 1128, is generally required to change a tax year. - That a change in tax year creates a short-period return for the months between the old and new year-ends. - How to perform the three-step calculation to annualize income and determine the tax for a short period. - That certain corporations can receive automatic approval for a tax year change under Rev. Proc. 2006-45. - To recognize the common exam trap of forgetting to prorate the annualized tax back to the short period. For more free exam prep tools, practice questions, and AI-powered explanations, visit https://open-exam-prep.com/ or YouTube Channel: https://www.youtube.com/@Open-exam-prep

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## Transcript

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