By Megan L. Brackney
A taxpayer who fails to make a timely election may be able to get a second chance from the IRS. Th e rules for extensions of time for elections are found at Reg. §§301.9100-1 through -3 and apply to many kinds of elections, including an application for relief in respect of tax, or a request to adopt, change or retain an accounting method or accounting period. 1 A grant of Section 9100 relief only forgives the late fi ling of the election and is not a determination that the taxpayer is otherwise eligible to make the election. Recognizing the distinction between regulatory and statutory elections is the first step in understanding when and how late-fi led elections will be permitted. A regulatory election is an election whose due date is prescribed by regulation or other published guidance, and a statutory election is one in which the due date is prescribed by statute.