IRS Delays Basis Consistency Reporting Due Date
By Mark A. McMillan on February 11, 2016
The IRS issued Notice 2016-19 (here), effective February 11, 2016. The notice extends the filing deadline for the new Form 8971 to March 31, 2016.
As discussed in last week’s post, Form 8971 implements basis reporting requirements enacted by Congress in 2015. Hopefully the IRS will use the additional time to clear up the ambiguities and eliminate the needless burdens of the current version.
The material contained within Meadows Collier Tax Blog - MC Talks Tax and any attached or referenced pages, has been written or gathered by Meadows, Collier, Reed, Cousins, Crouch & Ungerman, L.L.P., for information purposes only. It is not intended to be and is not considered to be legal advice. Transmission is not intended to create and receipt does not establish an attorney-client relationship. Legal advice of any nature should be sought from legal counsel.