Client is a partnership that filed its first 1065 tax return in 2020 on a cash basis. In 2021 wants to change to either hybrid or accrual method. IRS will probably allow this change provided the Form 3115 is filed. Is there any exception to the filing of Form 3115 in this situation to go from cash to hybrid or accrual
Announcement
Collapse
No announcement yet.
Accounting Method Change
Collapse
Disclaimer
Collapse
This message board allows participants to freely exchange ideas and opinions on areas concerning taxes. The comments posted are the opinions of participants and not that of Tax Materials, Inc. We make no claim as to the accuracy of the information and will not be held liable for any damages caused by using such information. Tax Materials, Inc. reserves the right to delete or modify inappropriate postings.