Form 3115 - Change in Accounting Method

Form 3115 is the required form to alert the IRS that a change in accounting method is taking place, or when the treatment of certain items is changing. This can be necessary for Cost Segregation Studies when depreciation is being taken retroactively for past years.

At MS Consultants, we know that all of our clients are busy, and any additional burdens placed on their shoulders are unecessary and unwelcome. That's why, as part of our Turnkey Process, we fill out and file Form 3115 for our clients whenever necessary. Our process is simple:

  • We gather any necessary information from the CPA or financial officer
  • With our completed Cost Segregation Study, we recalculate the depreciation based on new allocations
  • We provide this to the CPA for easy verification when they enter new assets
  • We determine the actual Section 481(a) adjustment (the difference between the actual depreciation taken on their last return and the new, recalculated depreciation)
  • We complete the worksheets showing the IRS all the information necessary to document how the assets were depreciated previously and currently
  • Finally, we email the final form to the CPA for agreement, and we send the final signed form to be filed

We make the process of recapturing missed depreciation as simple for our clients as possible. Contact us today to find out how we can help you.