Form 3115: New Procedures for Changing Accounting Methods
Mastering Latest Rules and Guidance
Recording of a 110-minute CPE webinar with Q&A
This teleconference will prepare accounting advisors and taxpayers for the essential concepts, the latest changes, and the potential pitfalls to comply with the new rules when reporting changes in accounting method on Form 3115.
- Longstanding guidance on reporting changes in accounting methods
- Rev. Proc. 2002-9 appendix
- Rev. Proc. 97-27 advance consent procedure
- Rev. Proc. 2002-18 on timing of Sect. 481 adjustments
- Rev. Proc. 2008-52
- Rev. Proc. 2009-39
- Key terms of latest guidance changes
- Rev. Proc. 2011-14
- Revisions in procedures to obtain automatic consent
- Seven new methods for which taxpayers can obtain automatic consent
- Final Sect. 381(c) regulations
- Accounting and inventory methods to be used after corporate reorganizations
- Rev. Proc. 2011-14
- Timing issues in reporting a change in accounting methods
- What rises to the level of a change in method?
- How soon does this change have to be reported?
- Procedures for filing Form 3115
- Difficult decisions faced in reporting
- Timing for filing form
- Timing of Sect. 481 catch-up
The panel will explore these and other relevant topics:
- Essential concepts: When Form 3115 is needed. What constitutes a "method of accounting" or "adoption" of a method. Procedures for filing Form 3115 or making a Sect. 481 "catch-up" adjustment.
- Latest changes: Procedural revisions in Rev. Proc. 2011-14 and Sect. 381(c) regulations.
- Potential pitfalls: The thorniest compliance issues in completing Form 3115.
Following the speaker presentations, you'll have an opportunity to get answers to your specific questions during the interactive Q&A.
Her practice focuses on a broad variety of federal issues involving accounting methods and inventories, and she chairs... | Read More
Her practice focuses on a broad variety of federal issues involving accounting methods and inventories, and she chairs the American Bar Association's tax accounting committee. Previously in her career, she led Ernst & Young's Transaction Cost Review Practice and was a legislation counsel at the IRS Office of Special Counsel.Close
Manager, Federal Tax Services Group
Ernst & Young
In recent years, her work has focused primarily on managing the firm’s accounting method and period-change... | Read More
In recent years, her work has focused primarily on managing the firm’s accounting method and period-change filings with the IRS, and helping clients do the same. She has a combined 17 years of experience with E&Y and Andersen before that.Close
Boyer & Ritter
He has worked in public accounting since 1992 and manages the firm's Tax Services Group. Among his client work is... | Read More
He has worked in public accounting since 1992 and manages the firm's Tax Services Group. Among his client work is compliance reporting on various income, payroll, retirement and other informational tax returns.Close
Mr. Luecks helps clients with accounting method issues, with a primary focus on inventories and Sect. 263A. He has... | Read More
Mr. Luecks helps clients with accounting method issues, with a primary focus on inventories and Sect. 263A. He has significant experience working with the IRS Examination and Appeals divisions and previously worked as a senior attorney in the IRS Office of Chief Counsel, where he was counsel to the Inventory and Sect. 263A Technical Advisor programs.Close