Rev. December 2022
These instructions explain how to file a request with the IRS to change the method of accounting for depreciation or amortization under various sections of the Internal Revenue Code. The form and attachments required depend on whether the change is automatic or must be requested in writing.
A Form 3115, Application for Change in Accounting Method, is used to apply for the IRS's approval of a change in an accounting method for federal tax purposes.
Any individual, partnership, S corporation, trust or estate, or other entity that is subject to the Internal Revenue Code and desires to change its accounting method must file a Form 3115 with the IRS.
A Form 3115 must be filed prior to the effective date of the change in accounting method, except for certain automatic changes where no advance approval is required. Failure to file timely may result in denial of the requested change.
Failure to obtain IRS approval before implementing a change in accounting method can result in disallowed deductions or additional tax. In some cases, the taxpayer may be required to file an amended return and pay any additional taxes due.
Form 3115 can be used to request a change in various accounting methods, including income recognition methods, accounting periods, inventory methods, depreciation methods, research and experimental expenditures, and more.
Form 3115 is one of Tax forms that are documents used to report information related to taxes to the relevant tax authority. There are various types of tax forms, including federal, state, and local tax forms, which can vary depending on the taxpayer's circumstances and location.
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