Filing Form 3115 for Method Change (204)

General Description:

This class is designed to introduce the participant to the process and procedures to follow in filing a Form 3115, Application for Change in Accounting Method.

Learning Objectives:

After completing this course the participant will be able to:

• Discuss filing a Form 3115 for nonautomatic changes, where to file the Form 3115, the due date, and the cost ($11,500 for 2024). (See Rev. Proc. 2015-13.)
• Discuss filing a Form 3115 for automatic changes. (See Rev. Proc. 2023-24.)
• Describe the changes that qualify as automatic changes and where to find the automatic method changes.
• Define a positive §481 adjustment.
• Define a negative §481 adjustment.
• Identify the relevance of §446(e), change proper method to proper method.
• Identify the relevance of §446(f), change improper method to proper method.
• Define Category A method; Code, Regs, or Supreme Court (no sign, no Form 8275).
• Determine when the treatment of an item becomes a method of accounting or a treatment of a material item.
• Describe the tax effect of the Tax Cuts and Jobs Act on changes in method of accounting, including a number of Revenue Procedures that have been issued in order to comply with changes made in the Tax Cuts and Jobs Act.

Instructors:

Mark A. Vogel is a retired professor and director of the University of Denver Graduate Tax Program, where for 38 years he taught courses in individual, fiduciary, tax accounting, partnership, and corporate taxation. He is the author of Divorce Taxation Guide (John Wiley & Sons) and Individual Taxation (Shepards/McGraw-Hill). He received a J.D. and LL.M. in Taxation from the University of Denver College of Law and an undergraduate accounting degree from the University of Notre Dame. He is also a CPA licensed in Illinois.

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