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2015 Guidance on Accounting Method Changes

Make sure you are up-to-date on the latest revisions to the tax accounting method change procedures.

Many companies are using tax accounting methods that are either improper, or are less advantageous than other permissible methods. After discovering an accounting method opportunity or risk area, the tax practitioner is then left to wind his or her way through hundreds of pages of revenue procedures to ensure that the accounting method change is filed properly and will be honored by the IRS. In 2015, the IRS released two new revenue procedures that contained significant revisions to the tax accounting method change procedures. This important topic helps participants understand and comply with the numerous significant changes the IRS made to existing accounting method change procedures in order to ensure the Forms 3115 are filed in accordance with these new rules. Understand several changes made to the scope limitations which will affect how accounting method changes are made for taxpayers in exam. Additionally, there will be a discussion of significant changes made to the automatic accounting method change procedures.

Runtime: 101 minutes
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Why Lorman?

Over 31 years and 1.4 million customers worth of experience providing continuing education. Our passion is providing you world-class training to help you succeed in business and as a professional.

Agenda

Introduction

  • Background and History

Procedural Changes (Rev. Proc. 2015-13)

  • Scope Limitation Changes
  • Terms and Conditions

Automatic Accounting Method Provisions (Rev. Proc. 2015-14)

  • Background
  • Significant Changes
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More Program Information

Why Lorman?

Over 31 years and 1.4 million customers worth of experience providing continuing education. Our passion is providing you world-class training to help you succeed in business and as a professional.

Credits

OnDemand Webinar

This program does NOT qualify, nor meet the National Standard for NASBA accreditation.

Audio & Reference Manual

This program does NOT qualify, nor meet the National Standard for NASBA accreditation.

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More Program Information

Why Lorman?

Over 31 years and 1.4 million customers worth of experience providing continuing education. Our passion is providing you world-class training to help you succeed in business and as a professional.

Faculty

Richard Shevak

CohnReznick LLP

  • National director, Tax Accounting Methods and Periods, in the office of CohnReznick LLP
  • Practice emphasizes all aspects of accounting methods (including UNICAP, LIFO, section 199, depreciation, repair regulations, etc.)
  • Conducts regular seminars and workshops on numerous accounting methods
  • Wrote several articles on a variety of accounting method issues related to the areas of his practice area
  • Member of ABA and AICPA
  • J.D. degree, St. John’s University School of Law
  • Can be contacted at 862-245-5029 or [email protected]

Christian T. Wood

McGladrey LLP

  • Leads McGladrey LLP’s Washington National Tax Accounting Methods and Periods team
  • More than 14 years of experience in public accounting, the public sector and law, Christian consults with clients on a variety of tax technical issues in the accounting and methods functional area, including the timing and character of income and expense recognition, inventory methods, UNICAP, the treatment of tangible assets, amortization and depreciation, transaction costs, intangible assets, and changes in methods of accounting and accounting periods
  • Published “Implementing the New Tangible Property Regulations” in the Journal of Accountancy; in addition, Christian led the tangible property regulations initiative while at Eide Bailly LLP
  • J.D. degree, George Mason University School of Law; masters of laws degree in taxation, Georgetown University Law Center; B.A. degree in economics, University of California
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Over 31 years and 1.4 million customers worth of experience providing continuing education. Our passion is providing you world-class training to help you succeed in business and as a professional.

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Product ID: 396418
Published 2015
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