Impact of Schedule M-3 on Tax-Related Issues

• In Event: Emerging and Innovative Research Session I

Abstract

The Schedule M-3 was implemented for regular corporations with total assets of $10 million or more, effective for years ending on or after December 31, 2004. Gradually, other business entities were required to utilize the Schedule M-3 also. The Schedule’s purpose was to replace the more simplistic Schedule M-1. The IRS goal of doing so was to increase transparency in business tax reporting. The government expected to be able to use the schedule to select returns for audit, to identify issues for audit and to identify trends and areas of greater compliance risk.

Authors

• John Ledbetter, Ball State University

• Lucinda Louise Van Alst, Ball State University

• Mark J Myring, Ball State University