This course offers a comprehensive examination of the tax impact of changes in accounting methods, tailored for practitioners seeking to optimize their advisory skills. Led by expert Mark Seid, the class begins by clarifying the pivotal distinction between a Change in Accounting Method (CIMA) and error correction, a differentiation that can significantly influence tax outcomes. Participants will gain expertise in the technicalities of filing Form 3115, including detailed guidance on the necessary and optional items to include, enhancing accuracy and compliance. Furthermore, the course explores the broadened scope for accounting method changes under the Tax Cuts and Jobs Act (TCJA), presenting new opportunities for tax planning. The session culminates with a focus on IRS audits related to accounting method changes, providing insights that will empower practitioners to navigate audits with confidence and strategic foresight.