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3115 Relief! The IRS listened to the CPAs! GOOD for Small Businesses!

The IRS is being awesome today!  YAY!!!!

For small businesses (assets less than $10mil or av gross revenues less than $10mil) we will not HAVE to file the form 3115!  You will have the choice to file this form if it helps you, but you are no longer required!  This is great news!!

As awesome CPAs we will, of course, review the form and any potential benefits for our clients, but in the meantime Tax Season can proceed!

YAY IRS for doing something to HELP small business!!!!

Watch our video on this topic here

Read the IRS press release here

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PLEASE NOTE: As of late Aug 2018 there was a proposed law change that would disallow a double deduction for these charitable credits at the federal level for contributions made after Aug 2018. You are still eligible for the AZ state tax credits as the change would only impact your ability to take them as charity donations at the federal level.
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