The Tax Impact of a Change in Accounting Method ON DEMAND
Available Until
Your Desk
2.0 Credits
Member Price $351.00
Non-Member Price $404.00
Overview
This course offers a comprehensive examination of the tax impact of changes in accounting methods, tailored for practitioners seeking to optimize their advisory skills. Led by expert Mark Seid, the class begins by clarifying the pivotal distinction between a Change in Accounting Method (CIMA) and error correction, a differentiation that can significantly influence tax outcomes. Participants will gain expertise in the technicalities of filing Form 3115, including detailed guidance on the necessary and optional items to include, enhancing accuracy and compliance. Furthermore, the course explores the broadened scope for accounting method changes under the Tax Cuts and Jobs Act (TCJA), presenting new opportunities for tax planning. The session culminates with a focus on IRS audits related to accounting method changes, providing insights that will empower practitioners to navigate audits with confidence and strategic foresight.
Highlights
Tax impact - not GAAP. Tax terms - accounting method. Internal revenue code. Treasury regulations. Internal revenue manual.
Prerequisites
None.
Designed For
CPAs, EAs, and other tax professionals.
Objectives
CIMA versus error correction. Filing Form 3115. Completing Form 3115. Gross receipts test under TCJA. IRS audits.
Preparation
None.
Notice
None.
Leader(s):
Leader Bios
Mark Seid, Western CPE
Mark F. Seid, EA, CPA has an active tax practice in Paso Robles, California specializing in small businesses and tax controversy. A National Tax Practice Institute graduate, Mark is admitted to practice before the U.S. Tax Court. He has served as an Internal Revenue Agent with the IRS in San Jose and San Luis Obispo, California, a state director for the California Society of Enrolled Agents, and the chair for the society’s Finance and Budget committee. He regularly presents courses to tax professionals on issues affecting small businesses.
Non-Member Price $404.00
Member Price $351.00