SECTION 2. CHANGES FROM

REV. PROC. 2015–16

Editorial changes have been made throughout this revenue procedure. In addition, section 4.02(3) has been updated to reflect that for tax years ending December 31, 2014, or later, filers that (a) are required to file Schedule M–3 (Form 1120), Net Income (Loss) Reconciliation for Cor- porations With Total Assets of $10 Million or More, and have less than $50 million in total assets at the end of the tax year or (b) are not required to file Schedule M–3 and voluntarily file Schedule M–3, are not required to file Schedule B (Form 1120), Additional Information for Schedule M–3 Filers . Section 4.02(3) has also been updated to reflect that for tax years ending on December 31, 2014, or later, partnerships that (a) are required to file Schedule M–3 (Form 1065), Net Income (Loss) Reconciliation for Certain Partnerships, and have less than $50 million in total

assets at the end of the tax year or (b) are not required to file Schedule M–3 and voluntarily file Schedule M–3, are not required to file Schedule C (Form 1065), Additional Information for Schedule M–3 Filers . No additional substantive changes have been made.