Transition Period Announced for Revised Form 3115, Announcement 2023-12

The IRS today informed taxpayers and practitioners that it has revised Form 3115, Application for Change in Accounting Method, and its instructions.

Announcement 2023-12 [PDF 78 KB] states that the Form 3115 (Rev. December 2022) is the current Form 3115 (December 2022 Form 3115) and replaces the December 2018 version of the Form 3115 (December 2018 Form 3115).

Announcement 2023-12 also provides guidance to allow for a reasonable period for taxpayers to transition to the December 2022 Form 3115.

• The IRS will accept either the December 2022 Form 3115 or the December 2018 Form 3115 if filed by a taxpayer on or before April 18, 2023, unless the use of the December 2022 Form 3115 is specifically required by guidance published in the Internal Revenue Bulletin.
• Taxpayers filing Forms 3115 after April 18, 2023, must use the December 2022 Form 3115.

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