Good News!! No Form 3115 Hassle for Small Businesses (or CPAs)
February 18, 2015 | No. 221

Small businesses won’t have to file Form 3115 to comply with repair regulations. Small business taxpayers will be allowed to make certain accounting method changes under the tangible property (or “repair”) regulations without filing Form 3115, Application for Change in Accounting Method, the IRS announced.

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Mark Vitek, CPA/PFS, CFP®
…until next week.