by Kevin Jerry | Mar 28, 2023 | 3115s
Not Signing a Form 3115 is Considered to be a Bad Sign Annually, the IRS compiles a “Dirty Dozen” list of 12 scams and schemes that taxpayers may encounter, especially during tax filing season. Day six of the campaign will hit home with building owners and investors...
by Kevin Jerry | Nov 16, 2022 | 3115s, 481a, Cost Segregation, Method Change, The Tangible Property Regulations
When a tax method change occurs, whether it is from cost segregation, the Tangible Property Regulations, or any other tax method changes (for which the cutoff method cannot be used), a 481a adjustment must be used. Suppose income for any taxable year is under a...
by Kevin Jerry | Sep 7, 2021 | 3115s
Additional Consequences of Not Filing the Required Tangible Property Regulation 3115s Beyond the disregarded TPR method filing consequences, the client will miss out on the following optional TPR opportunities: The ability to deduct the net remaining tax basis of...
