• View detailsArticle

    Mann Construction Plaintiffs Take IRS Back to Court...

  • View detailsPresentation

    Wichita Falls Chapter Free CPE Day...

  • View detailsConference

    23rd Annual Meadows Collier Tax Conference...

  • View detailsFirm News

    Eleven Meadows Collier Attorneys Selected to D Magazine's 2022 Best Lawyers Listing...

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.