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!!!!
Read the IRS press release here