The Internal Revenue Service, in partnership with stakeholder groups, has set up a new Web-based list of frequently asked questions aimed at helping corporate taxpayers understand the requirements of the new Schedule M-3.

The IRS estimates that approximately 50,000 large and midsized corporations are now required to use the new schedule, "Net Income (Loss) Reconciliation for Corporations with Total Assets of $10 Million or More," which is filed by affected corporations to reconcile financial accounting income to taxable income.

Register or login for access to this item and much more

All Accounting Today content is archived after seven days.

Community members receive:
  • All recent and archived articles
  • Conference offers and updates
  • A full menu of enewsletter options
  • Web seminars, white papers, ebooks

Don't have an account? Register for Free Unlimited Access