When do you file Form 3115? What regulations allow variations between financial and tax reporting? When it comes to accounting methods, questions like these are common among tax professionals.
This self-study course provides you with an overview of the various factors considered for the determination of the proper accounting method (such as cash, accrual) and provides detailed examples of court rulings and client examples (for specific industries).
This course covers updates for Tax Cuts and Jobs Act (TCJA) and changes to cash method of accounting rules, as well as considerations for changes in an accounting period of an entity.
In addition, the course provides a case study and example tax forms to highlight how to identify which IRS Revenue Procedures are applicable to a given client situation, as well as how and when to prepare the Form 3115.