Webcast
Conquering Form 3115: Correcting Depreciation with Sample Problem
Procedures for correcting depreciation errors on tax returns, including IRC Section 481(a) adjustments and alternatives to amending returns.
$49.00
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Secure Transaction CPE Credits
1 Credits: Taxes
Course Level
Basic
Format
Webcast
Course Description
When depreciation errors are detected on previously filed tax returns, most spontaneously want to amend the return and correct this error. However, amending previously filed returns usually is not an accurate or beneficial way to proceed. There are procedures, which will be clarified, that will allow us to fix these depreciation omissions and or oversights.
Furthermore, this webinar will deliver a comprehensive example on making changes to previously missed or incorrect depreciation. The when and how of IRC Section 481(a) adjustments will be discussed.
Learning Objectives
Upon completion of this course, participants will be able to:
- Explain what is Form 3115 and how do we file it
- Determine the advantages of Form 3115
- Clarify the differences between Form 3115 and 1040X
- Calculate and establish IRC Section 481(a) adjustments
- Analysis of the Qualified Improvement Property
- Interpret when we must Correct Depreciation
Course Specifics
WC1824398373
October 14, 2024
None
None
Compliance Information
IRS Provider Number: 0MYXB
IRS Course Number: 0MYXB-T-02523-24-O
IRS Federal Tax Law Credits: 1
CTEC Course Number: 2071-CE-2083
CTEC Federal Tax Law Credits: 1
CFP Notice: Not all courses that qualify for CFP® credit are registered by Western CPE. If a course does not have a CFP registration number in the compliance section, the continuing education will need to be individually reported with the CFP Board. For more information on the reporting process, required documentation, processing fee, etc., contact the CFP Board. CFP Professionals must take each course in it’s entirety, the CFP Board DOES NOT accept partial credits for courses.
CTEC Notice: California Tax Education Council DOES NOT allow partial credit, course must be taken in entirety. Western CPE has been approved by the California Tax Education Council to offer continuing education courses that count as credit towards the annual “continuing education” requirement imposed by the State of California for CTEC Registered Tax Preparers. A listing of additional requirements to register as a tax preparer may be obtained by contacting CTEC at P.O. Box 2890, Sacramento, CA, 95812-2890, by phone toll-free at (877) 850-2832, or on the Internet at www.ctec.org.
Meet The Experts
A.J. Reynolds, EA has over thirty years of experience encompassing various areas of taxation. Though his practice centers on Individual, Business, and Estate Tax preparation, A.J. focuses a portion of his practice to IRS Representation. As diverse as his specializations, A.J.’s clientele, too, ranges from average workers to Fortune 500 executives. Additionally, A.J volunteers his time with the Iowa Legal Aid’s Managing Attorney assisting in Tax Court cases and assorted income tax issues. A.J. brings his everyday “in the trenches” experience to seminars and webinars for multiple organizations to assist attendees with real issues affecting tax professionals. A.J. started his …
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