TaxConnections and ACPEN offer these additional dates for for The Tangible Property Webinar.
The Tangible Property Regulations went into effect on January 1, 2014. On February 13, 2015, the IRS released the “repair regs” under Rev. Proc. 2015-20. These were billed as providing relief for small taxpayers struggling with the tangible property regulations. However, as with most attempts to help taxpayers this “relief” is a mixed blessing for some taxpayers. Learn how, as a practical matter, availing oneself of the processes contained in Rev. Proc. 2015-20 could cause the taxpayer to miss out on important tax savings. ACPEN’s expert practitioners will explain the practical impact of under the repair regulations. Both practitioners and taxpayers need to be wary of the possible traps of employing Rev. Proc. 2015-20 and the tangible property regulations.
• The purpose of these new regulations
• How to advise clients on accounting method changes and elections
• How to gather the information to prepare the required Forms 3115
• Which Automatic Change Methods can be combined on Forms 3115 • Relief for Small Taxpayers *Risks of ignoring these regulations
Length: 2 Hours