AICPA suggests Schedule M-3 improvements

04/28/2011 | JournalofAccountancy.com

In a letter to the Internal Revenue Service, Patricia Thompson, CPA, chair of the AICPA's Tax Executive Committee, asked the IRS to work with external stakeholders on revisions to Schedule M-3, Net Income (Loss) Reconciliation. She noted the increased compliance burden placed on taxpayers by Schedule M-3 and recommended several changes to the form to reduce that compliance burden.

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