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limitation under section 404(a). Moreover, petitioner argues
that the grace period contributions were "for the portion of" the
Current Taxable Year that ended within the various plan years of
the CBA Plans to which it made contributions, because under
section 404(a)(6) they were deemed to have been a payment made on
the last day of the Current Taxable Year.
Respondent presents several alternative arguments. First,
respondent contends that petitioner's longstanding practice of
deducting only contributions calculated from covered hours worked
during a given taxable year constituted an accounting method. In
order to change to a different accounting method, petitioner was
required under section 446(e) to obtain the Commissioner's
consent, which was not done. Second, respondent asserts that
petitioner's "new method", i.e., that of deducting grace period
contributions in the Current Taxable Year, fails to clearly
reflect income under section 446(b). And, third, respondent
claims that the grace period contributions were not "on account
of" petitioner's current tax year within the meaning of section
404(a)(6).
Section 404(a) specifies that employer contributions to
exempt trusts under various types of qualified employee benefit
plans are not deductible under any other Code provision, but if
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