Topic Thread

fORM 3115

  • 1.  fORM 3115

    Posted 07-07-2018 22:53
    What part of form 3115 you need to fill out when you want to change an S corp. from a cash basis to an accrual basis for tax purposes?
     
    Joseph Schnitzer CPA, P.C.
    328 Longacre Avenue
    Woodmere, NY 11598
    Tel. 516-569-1955
    Fax: 516-569-1757
     
     
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    PURSUANT TO INTERNAL REVENUE SERVICE CIRCULAR 230, be advised that this advice was not intended or written to be used, and it may not be used by the taxpayer, for the purpose of avoiding penalties that may be imposed on the taxpayer.


  • 2.  RE: fORM 3115

    Posted 07-08-2018 19:27
    Joseph, let me ask one question - with the changes related to the new tax laws, why do you want to change from cash to accrual?  With the new laws, you do not need to convert due to inventory, volume of sales, etc.


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    Stephen Mankowski
    215.682.7366
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  • 3.  RE: fORM 3115

    Posted 07-12-2018 12:35
    I understood that the threshold was raised to 25 million for C Corps only?

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    PerryPalettaCPA
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