The Schedule M-3 Compliance Maze: Unanswered Questions

18 Pages Posted: 25 Nov 2013

See all articles by John Everett

John Everett

Virginia Commonwealth University (VCU) - Department of Accounting

Cherie Hennig

University of North Carolina (UNC) at Wilmington - Department of Accountancy and Business Law

William A. Raabe

University of Wisconsin - Whitewater - College of Business and Economics

Date Written: March 19, 2007

Abstract

The depth of information required by Schedule M-3 may not have been produced in proper form by the taxpayer before introduction of the form, and some transition difficulties will arise simply with respect to delivering the needed data. Once taxpayers, their advisers, and the tax software industry iron out those difficulties, the IRS will be in a position to conduct examinations more efficiently and completely than ever before. Tax planning strategies and their results will be more transparent to the IRS. It remains to be seen what the IRS will do with all that information, and how Schedule M-3 by itself will change the U.S. tax system in coming years.

Keywords: book-tax differences, schedule M-3

JEL Classification: E62, H25

Suggested Citation

Everett, John and Hennig, Cherie and Raabe, William A., The Schedule M-3 Compliance Maze: Unanswered Questions (March 19, 2007). Tax Notes, 2007. Available at SSRN: https://ssrn.com/abstract=2359544

John Everett

Virginia Commonwealth University (VCU) - Department of Accounting ( email )

Richmond, VA 23284
United States

Cherie Hennig

University of North Carolina (UNC) at Wilmington - Department of Accountancy and Business Law ( email )

601 S. College Road
Wilmington, NC 28403
United States

William A. Raabe (Contact Author)

University of Wisconsin - Whitewater - College of Business and Economics ( email )

Whitewater, WI 53190
United States

HOME PAGE: http://billraabetax.com

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