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Washington Tax Alert from Don Barnes, May 21, 2007

Washington Tax Alert from Don Barnes, dbarnes@washingtontaxlaw.com May 21, 2007

The IRS National Office recently issued 9100 rulings granting relief to taxpayers that had failed to attach original Forms 3115 to their tax returns with regard to an automatic accounting method change involving the depreciation of assets. The taxpayers had filed copies of the Forms 3115 with the National Office.

In the rulings, the National Office reiterated the requirement in Rev. Proc. 2002-9 that Forms 3115 must be completed and filed in duplicate. Taxpayers making an automatic accounting method change must attach the original Form 3115 to their timely filed original federal income tax return for the year of change, and file a signed copy of the Form 3115 with the National Office no later than when the original is filed with the tax return for the year of change.