Rev. Rul. 56-315

In Revenue Ruling 55-426, C.B. 1955-1, 68, it was stated that the provisions of Revenue Ruling 54-608, C.B. 1954-2, 8, relating to the accrual of vacation pay, would not be applicable with respect to taxable years ending prior to January 1, 1956. This date was extended to July 1, 1956, by an announcement in Internal Revenue Bulletin 1955-52, 9, dated December 27, 1955. Under authority of section 7805(b) of the Internal Revenue Code of 1954, the inapplicability of Revenue Ruling 54-608 is hereby further extended for a period of six months and, accordingly, that ruling will not be applicable with respect to taxable years ending prior to January 1, 1957.