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S corporation shareholders use Form 7203, S Corporation Shareholder Stock and Debt Basis Limitations, to figure the potential limitations of their share of the S corporation’s deductions, credits, and other items that can be deducted on their individual returns.

S corporation shareholders use Form 7203, S Corporation Shareholder Stock and Debt Basis Limitations, to figure the potential limitations of their share of the S corporation’s deductions, credits, and other items that can be deducted on their individual returns.

IR-2022-49, March 3, 2022 — The IRS is aware of a third-party software issue affecting qualifying farmers and fishermen attempting to electronically file Forms 7203.

Reporting amounts from Schedule K-1 (Form 1120-S), box 13, code H, on Form 7203, S Corporation Shareholder Stock and Debt Basis Limitations.

Aug. 14, 2024 — On Aug. 8, a federal grand jury in Knoxville returned a 14-count indictment against Kenneth Francis Lee and Susan Amie Lee, of Knoxville, TN. Kenneth Lee was indicted on seven counts of wire fraud, one count of money laundering, and three counts of tax offenses, in violation of 18 U.S.C. §§ 1343; 1956(h), 26 U.S.C. §§ 7201 and 7203.

January 4, 2023 — A resident of Wexford, PA, has been sentenced in federal court to three years' probation and 180 days home confinement on her conviction of various violations of the Internal Revenue Code, United States Attorney Cindy K. Chung announced today.

This notice is sent to provide a list of payees (taxpayers) to a payer upon their request. The list shows payees currently subject to backup withholding because of underreporting.

CP544 notice is sent to payers to discontinue backup withholding on Jan 1st.

CP545 notice is sent to tell a payer to discontinue backup withholding within 30 days.

We sent this notice to tell you that you are required to begin backup withholding interest or dividend income for the payee (taxpayer) listed on your notice.