FORM 3115 UPDATED - INSTRUCTIONS CHANGED

[Lee B]

COPIED FROM THE ATX BLOG:

Federal and State Tax News Highlights,I.1,IRS Releases Revised Form 3115 and Instructions; Transition Rules Provided (Ann. 2016-14),(Mar. 25, 2016)

 

The IRS has revised Form 3115, Application for Change in Accounting Method, and its instructions . The current Form 3115 (Rev. December 2015) replaces the December 2009 version.

 

The IRS will accept either the current Form 3115 or the December 2009 Form 3115 on or before April 19, 2016, except where the use of the current version is specifically required in guidance published in the Internal Revenue Bulletin.

 

Taxpayers filing Forms 3115 after April 19, 2016, must use the current version . Regardless of the form used, taxpayers must provide all the information required by Rev. Proc. 2015-13 , I.R.B. 2015-5, 419 (or Rev. Proc. 2011-14 , I.R.B. 2011-4, 330, if the taxpayer is making a change under the transition rule in section 15.02(1)(a)(ii) of Rev. Proc. 2015-13 , as modified by Rev. Proc. 2015-33 , I.R.B. 2015-24, 1067).

 

Beginning in January 2016, the duplicate copy of Form 3115 for an automatic change request should be filed with the Internal Revenue Service, 201 West Rivercenter Blvd., PIN Team Mail Stop 97, Covington, Kentucky. 41011-1424. A taxpayer filing its duplicate copy of Form 3115 (Rev. December 2009) before April 20, 2016, with the IRS in either Ogden, Utah, or Covington, Kentucky, may file its original Form 3115 with its return on either the December 2009 Form 3115 or the December 2015 Form 3115.

[Terry D EA]

Thank you for this. Judy can I think it would be a good idea to pin this thread with the others at the top of the forum.

[BHoffman]

YAY!  So the form is only one page and a few "check the box" entries, right?????!!!!

[jklcpa]

6 minutes ago, BHoffman said:

YAY!  So the form is only one page and a few "check the box" entries, right?????!!!!

Yeah, right!!!!   Haha, still 8 pages.