IRS provides relief for small businesses from filing Form 3115

On February 13, the IRS released Rev. Proc. 2015-20, which provides a simplified method for qualifying small businesses to comply with the final tangible property regulations.

Here’s an article from the Journal of Accountancy discussing the changes, and here’s a link to the original Revenue Procedure from the IRS.

Finally, don’t forget we’re always available to help small businesses navigate the latest rules and regulations from the IRS.