The Internal Revenue Service (IRS) recently launched a new compliance campaign focused on S corporations and shareholder distributions. The three areas of concern include failure to report gain upon the distribution of appreciated property, failure to correctly determine the taxability of a dividend, and the failure to report non-dividend distributions in excess of their stock basis subject to taxation. The IRS will be conducting issue-based examinations and reaching out to stakeholders on this topic.
Pass Through Entities Become Focus of New IRS Compliance Campaign
On behalf of Law Office of Williams & Associates, P.C. | Jul 17, 2018 | IRS