This course will help practitioners best determine accounting methods for their clients and how to keep them in compliance.
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This course will answer that question and more. When do you file Form 3115, Application for Change in Accounting Method? What regulations allow variations between financial and tax reporting? When it comes to accounting methods, questions like these are common among tax professionals.
Learn about various factors in determining proper accounting methods, with detailed examples of court rulings and client examples for specific industries. Learn about updates due to the Tax Cuts and Jobs Act (TCJA), changes to the cash method of accounting rules, and issues related to changes in an accounting period of an entity.
A case study and example tax forms highlight how to identify which IRS revenue procedures are applicable to a given client situation, as well as how and when to prepare Form 3115.
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