• View detailsArticle

    First Charges Announced for Bad Entry Into OVDP Alternative...

  • View detailsPresentation

    State Bar of Texas Tax Section Leadership Academy...

  • View detailsConference

    21st Annual Meadows Collier Tax Conference...

  • Firm News

    Michael A. Villa, Jr. has been appointed Chair of the Tax Controversy Committee of the State Bar of Texas Tax Section for the 2019-2020 year....

VIEW MOST RECENT
 
 
 
 
 
 
View All
     
Showing 3 of 10

Meadows, Collier, Reed, Cousins, Crouch & Ungerman, L.L.P.

901 Main Street, Suite 3700
Dallas, TX 75202

Phone: (214) 744-3700
Fax: (214) 747-3732
Toll Free: (800) 451-0093

submit inquiry
blog

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.