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Permit Electronic Transmission of Schedules K-1 (Form 1041) to Beneficiaries and Schedules K-1 (Form 1120-S) to Shareholders

Oct 15, 2024 · 306.5 KB Download

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AICPA submitted to Treasury and IRS comments requesting IRS to allow trustees and executors the option to only transmit Schedules K-1 (Form 1041), Beneficiary’s Share of Income, Deductions, Credits, etc., electronically to beneficiaries, and providing S corporations the option to only transmit Schedules K-1 (Form 1120-S), Shareholder’s Share of Income, Deductions, Credits, etc., electronically to shareholders. AICPA also attached a draft revenue procedure. These comments are in addition to our previously submitted comments on October 18, 2022.

Download the Permit Electronic Transmission of Schedules K-1 (Form 1041) to Beneficiaries and Schedules K-1 (Form 1120-S) to Shareholders

File name: AICPA-Comments-on-Forms-1041-and-1120-S-schedule K-1-electronic-to-taxpayers-submit.pdf

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