- Ag Docket
(IRS issues new Form 8937 and instructions for use by corporations to report transactions that impact shareholder stock basis; Form issued in accordance with tax reporting rules that became effective Jan. 1, 2011; Form must generally be filed by the earlier of January 15 of the year after the year in which transaction occurs or within 45 days after transaction; filing requirement applicable to public, private, domestic and foreign corporations; filing requirement applicable when corporate transaction impacts basis of all stockholders or holders of particular class of stock (or specified securities); S corporations satisfy reporting requirements by including impact of corporation transaction on timely-filed Schedule K-1; filing requirement avoidable if corporation posts "completed Form 8937" on corporate website; failure to comply with filing requirement results in $100 penalty per information return (up to $1.5 million annual maximum and additional $100 penalty for each shareholder (up to $1.5 million annual maximum).
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