Form 3115 is not provided within TaxSlayer Pro. If you need to file it, the form can be completed at the IRS website here and saved in PDF form suitable for attaching to the tax return (all returns except for Form 1041).
IRC section 446(e) states that, unless otherwise provided, a taxpayer, whether an individual or a business, must secure the IRS's consent before changing a method of accounting for any item for federal income tax purposes. Form 3115 is used to request this consent.
There are two types of consent: automatic and non-automatic.
- Automatic consent is granted for changes that have an assigned Designated Change Number (DCN). The form instructions lists the automatic changes and their corresponding DCN. When requesting automatic consent with a DCN, Form 3115 is attached to the annual tax return and a signed copy of the form is mailed to the IRS.
- A non-automatic change, however, is generally requested during the tax year to which the change applies and should be done as early as possible to give the IRS enough time to respond. Additionally, there is a fee for a non-automatic change. See here for the latest Internal Revenue Bulletin that includes the fees.
Before filing Form 3115, read its instructions as well as the other relevant IRS form instructions and publications to determine if the ability to make the change without filing the form is already provided for in the code.
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