Identifying obscure but potentially costly tax issues is a skill. Solving them in the context of our client’s goals is an art, and one that Paul, Weiss practices at the highest level. Working closely with the Corporate and Restructuring Departments, our tax lawyers help clients solve problems, avoid pitfalls and uncover hidden value in all types of transactions.
New U.S. Tax Reporting Due by January 17, 2012 for Corporations that Engaged in Certain Transactions in 2011
January 13, 2012
To read the memo, click here.
The IRS has issued Form 8937, which implements certain new information reporting requirements under Section 6045B of the U.S. Internal Revenue Code. As implemented by the form, Section 6045B requires that corporations report any "organizational action" that affects the basis of their equity in the hands of all of the holders of such equity, as well as additional information about the effect on basis. The deadline for reporting corporate actions that occurred during 2011 is January 17, 2012.