2021-07-26 Proposed S Corporation Form

This week we look at:

• Taxpayer fails in attempt to use Cohan rule to obtain deductions
• IRS proposes Form 7203 to use by shareholders to report basis in S corporation
• IRS can consider potential recovery against executor as part of offer in compromise
• IRS opens up site for full electronic submission and signing of Forms 2848 and 8821

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