25 March 2016 IRS issues revised Form 3115 and provides April 20, 2016 requirement for use of the newly revised form The IRS has issued (Announcement 2016-14) a revised Form 3115, Application for Change in Accounting Method, which replaces the December 2009 version of the form. The IRS will accept Form 3115 (Rev. December 2015) or Form 3115 (Rev. December 2009) filed on or before April 19, 2016, unless guidance specifically states that Form 3115 (Rev. December 2015) must be used. Significantly, on or after April 20, 2016, taxpayers must use Form 3115 (Rev. December 2015). On Form 3115 (Rev. December 2015) or Form 3115 (Rev. December 2009), taxpayers must provide all of the information required by Revenue Procedure 2015-13. If a taxpayer is making a change under the transition rule in Section 15.02(1)(a)(ii) of Revenue Procedure 2015-13, as modified by Revenue Procedure 2015-33, the taxpayer must provide all of the information required by Revenue Procedure 2011-14. Beginning in January 2016, taxpayers must file the duplicate copy of Form 3115 with the IRS in Covington, Kentucky, instead of Ogden, Utah, as previously required by Revenue Procedure 2015-13. The address of the Covington office is: If a taxpayer filed the duplicate copy of Form 3115 with the IRS before April 20, 2016, in either Ogden, Utah or Covington, Kentucky, using Form 3115 (Rev. December 2009), the taxpayer may file the original Form 3115 and its return on either Form 3115 (Rev. December 2015) or Form 3115 (Rev. December 2009). The requirement to use the new Form 3115 for applications filed on or after April 20, 2016, imposes a specific date for conversion to use of the new application. This will require taxpayers, in appropriate cases, to be cognizant of applicable method change procedural rules, which may require careful thought in responding to questions on the Form 3115.
Document ID: 2016-0569 | |||||||||||||
