IRS Issues Revised Form 3115 for Changes in Accounting Methods

The IRS has issued a revised version of the form and instructions that taxpayers use to apply for changes in accounting methods, incorporating a variety of changes that the agency has made in recent years.

The new Form 3115, revised as of December 2022, replaces the previous 2018 version of the form, the IRS said in an announcement Friday.

• The revised form reflects changes made by revenue procedures issued over the past several years that streamline certain procedures and address changes in accounting methods in areas such as controlled foreign corporations and credit card fees.