How to Prepare Financial Statements Using the Modified Cash Basis
yanz@1234572021-10-08T19:31:01+00:00You’ll also want to make sure you keep records of any forms or documents you provide to the IRS. Remember that if the IRS contacts you for any reason, you should make sure to respond promptly and provide any requested information. If you carefully follow the IRS instructions and provide accurate information, you shouldn’t have any issues. This will give the IRS enough time to respond before you file your tax return for the year. After entering the general information at the top of Form 3115, you’ll want to follow the detailed directions for the schedules or parts of the form [...]