Change of Accounting I have a construction company. Years 2015 and prior I have used the accrual method of accounting for tax reporting. For 2016 I am using the percentage of completion for our long term contracts. By doing this I will be differing income of around 200 thousand dollars, for billings in excess of costs. Do I have to file form 3115, Change of Accounting for the year 2016? Gross Revenues for 2015 and prior have ranged around 1+ million. For 2016 Gross Revenue is around 4 million. 2017 will be around 10+ million. |