2 Credits: Taxes
This course offers a comprehensive examination of the tax impact of changes in accounting methods, tailored for practitioners seeking to optimize their advisory skills. Led by expert Mark Seid, the class begins by clarifying the pivotal distinction between a Change in Accounting Method (CIMA) and error correction, a differentiation that can significantly influence tax outcomes. Participants will gain expertise in the technicalities of filing Form 3115, including detailed guidance on the necessary and optional items to include, enhancing accuracy and compliance. Furthermore, the course explores the broadened scope for accounting method changes under the Tax Cuts and Jobs Act (TCJA), presenting new opportunities for tax planning. The session culminates with a focus on IRS audits related to accounting method changes, providing insights that will empower practitioners to navigate audits with confidence and strategic foresight.
Upon completion of this course, participants will be able to:
- CIMA versus Error Correction;
- Filing Form 3115;
- Completing Form 3115;
- Gross Receipts Test under TCJA; and
- IRS Audits.
July 26, 2023
IRS Provider Number: 0MYXB
IRS Course Number: 0MYXB-T-02361-23-O
IRS Federal Tax Law Credits: 2
CTEC Course Number: 2071-CE-1926
CTEC Federal Tax Law Credits: 2
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
Mark Seid, EA, CPA has over 25 years of experience in field of taxation focused on tax controversy. A National Tax Practice Institute graduate, Mark is admitted to practice before the U.S. Tax Court. He has served as an Internal Revenue Agent with the IRS in San Jose and San Luis Obispo, California, a state director for the California Society of Enrolled Agents, and the chair for the society’s Finance and Budget committee. He regularly presents courses to tax professionals on issues affecting small businesses.