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When to file instructions 1120-S (Schedule K-1) Form: What You Should Know

Form 4797. Aug 21, 2024 — Furnish a copy of Form 4797 to each shareholder by the filing deadline (February 15th, 2018), and keep a copy of (or scan) each copy for your records (for tax reporting on shareholder distributions): See See Form 4797, pages 20 through 21 and Part 7. A.7,  How to Complete Form 4797 (100S) Aug 21, 2024 — Furnish Form 4797-B to each shareholder by the filing deadline (February 15th, 2018), and keep a copy of (or scan) each copy for your records (for tax reporting on shareholder distributions): See See Form 4797-B pages 8 through 10 and Part 7. A.8,  If you use Form 4797-B to report stock options or other awards for the year, you are required to attach to the Form 4797 all other required attachments shown below. If you use Form 4797-C to report capital gain dividends, be sure to attach a separate Form 4797-C for each stock option or other award. Be sure to retain a copy for tax reporting. See See U.S.  What if a shareholder chooses to defer the Form 4797-C to 2024 or later, and/or a shareholder chooses to defer to a later year, because of a change in control? A shareholder who chooses to defer the Form 4797-C in connection with a change in control must file the S corporation amended tax return as of the later filing deadline (March 15th, 2018). A shareholder who has not deferred the Form 4797-C under the previous guidance may file the amended return for that taxpayer's earlier tax year. However, the IRS will not approve the amended returns. The IRS will consider the shareholder deferral application as a complete tax return, and will issue all due forms and certificates to the shareholder and the shareholder's attorney. See Form 4797, pages 20 through 22 and Part 7. B.9,  What should I do if, after completing the above steps, I still have an outstanding question not addressed by my attorney about form 4797, U.S. Income Tax Return for an S Corporation? You should speak with your attorney about any additional questions or concerns. The most efficient way to resolve your question is to contact the IRS directly.

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