The alternate method or procedure may be approved if it meets all of the following conditions:
There is good cause for its use;
It is consistent with the purpose and effect intended by the prescribed method or procedure;
It affords equivalent security to the revenue;
It is not contrary to any provision of law;
It will not result in an increase in cost to the Government;
It will not hinder the effective administration of this subpart such as delaying timely payment of taxes; and
It is not a method or procedure that relates to the payment or collection of tax.