DCN 233 Away from Accrual TCJA Webinar

In this webinar we address:

• How to prepare the DCN 233 (=< $25MM AAGR tax change, which is the automatic method change from using the overall accrual method to the overall cash method), including:
  • The theories and reasons behind this method change filing
  • How to calculate the appropriate and resultant 481(a) adjustment (as of the first day of the tax year in which the method change is filed, i.e. January 1, 2019 for a method change filing for calendar year 2019)
  • What the completed IRS Form 3115 looks like, line by line,
  • How the completed DCN 233 attachment should be worded, and
  • The additional information that should be submitted with the Form 3115 and its attachment.
    • For DCN 233 that additional/required information is the ending prior year balance sheet and income statement visually showing where the 481(a) adjustments will change/affect those financials.

Note that:

• If you wish to also file DCN 234 on Change away from 263A, and/or DCN 235 on Change away from inventory accounting, consult the webinars on those method changes