2021-07-26 Proposed S Corporation Basis Forms

This week we look at:

• Taxpayer fails in attempt to use Cohan rule to obtain deductions

• IRS proposes Form 7203 to use by shareholders to report basis in S corporation

• IRS can consider potential recovery against executor as part of offer in compromise

• IRS opens up site for full electronic submission and signing of Forms 2848 and 8821

An audio only version of this week’s broadcast can be streamed or downloaded below

2021-07-26 Proposed S Corporation Basis Forms

Edward K. Zollars, CPA (Kaplan Financial Education)

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Articles and copies of the slides for this week’s update can be downloaded below:

2021-07-29 Current Federal Tax Developments