Basis Reporting Postponed (Again)

The IRS has announced that the deadline for filing Form 8971, and for providing Schedule A to beneficiaries, previously postponed to February 29 by Notice 2015-57, and then postponed to March 31 by Notice 2016-19, has again been postponed, this time to June 30.  Notice 16-27  (3/23/16).

For background on the new basis reporting rules and Form 8971, see “Consistent Basis Reporting Required,” “New Basis Reporting Form,” and “Basis Reporting Form Released.”

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