New Rules for Accounting Method Change Reporting and Tax Form Filing
About This Event
New Rules for Accounting Method Change Reporting and Tax Form Filing
Instructor: JeFreda Brown
Product ID: 501031
Description
If taxpayers do not comply with their requirements, the IRS can involuntarily change the accounting method to the one it determines is best. Companies also must be aware of any changes or updates to the requirements for accounting method changes. The IRS has made some updates to Form 3115 that will be effective for 2016. Taxpayers need to be aware of requirements for the revised form.
Why Should you Attend
It is very important that taxpayers are aware of the requirements for correctly making accounting method changes. Not complying with the required procedures for reporting accounting method changes will cause the IRS to get involved. It is even more important to be aware of any revisions, updates, or changes to the procedures.
Objectives of the Presentation
Understanding the difference between accounting methods
Discussing reasons taxpayers do not always use the most beneficial accounting method
Discussing what things must exist in order for changes in accounting method to occur (General Rules)
Discussing the difference between voluntary and involuntary accounting method changes
Discussing procedures that are required to obtain consent to change an accounting method
Discussing IRC Section 481(b)-Tax Limitation Computation
Discussing 2015 IRS updates for accounting method change procedures
Discussing recent IRS updates to Form 3115-Application for Change in Accounting Method
Discussing 2015 FASB updates for Equity Method of Accounting
Discussing court cases about cost segregation for property/assets depreciation computation when dealing with accounting method changes
Who can Benefit
Small businesses owners with or planning to hire employees
Medium/Large companies
Public Corporations
Nonprofit Organizations
Government Agencies and Organizations
Accounting Personnel
Attorneys
Accountants and CPAs
Income Tax Preparers
College Accounting Staff and Faculty
For Registration -
http://www.onlinecompliancepanel.com/webinar/TaxReporting-501031/SEP-2015-ES
Note : Use coupon code 1371 and get 10% off on Registration