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Using Form 3115 to Implement Tax Method of Accounting Changes (CACM)

Wednesday, June 14, 2017
01:00 PM - 03:00 PM (Eastern)

Mike Tucker, Ph.D., LL.M., J.D., CPA

David McGuire

  • Format Webinar
  • Credits 2
  • Level Intermediate
  • Field of Study Taxes (2)

Overview

This program discusses how a taxpayer can change a method of accounting generally, and focuses on how to complete Form 3115 in order to make an accounting method change.

Major Topics:

  • What is a method of accounting?
  • What is an accounting method change?
  • The difference between automatic and non-automatic changes in a taxpayer’s method of accounting
  • How to prepare and what to disclose on the Form 3115
  • Impact of an IRS examination on the taxpayer's ability to make accounting method changes
  • Calculating and reporting a Section 481(a) adjustment

Learning Objectives

  • Determine if an accounting method change can be implemented automatically or whether it will require the IRS's consent to implement
  • Complete the Form 3115

Who should take this course:

Any tax practitioner who wishes to understand the tax rules relating to accounting method changes

Basic understanding of the tax rules dealing with individual and business income taxation

None

Yes

No

No

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