Form 3115 Accrual to Cash change

[cpabsd]

I have a client who has decided they no longer want to be accrual basis. I had told them in the beginning they could be cash basis but they wanted to report as accrual. Based on the qualifications, they qualify for cash basis. I know I need to file Form 3115. My question is when can they elect this change? Their corporate return for 2013 has been put on extension. So, if I’m reading correctly, they can elect the change for 2013. Agree?? I will use code 33 and filed under rev proc 2011-14. Any other guidance - this is the first one I've ever completed.

[kcjenkins]

I agree with you on how you should do it.

[cpabsd]

thanks KC!!