Seaside CPA wrote:Can anyone confirm that if a shareholder (one that I don't normally deal with) requests a copy of the corporate tax return, that it is ok to give them one under code section 6103? In most cases, I give one copy and would get other shareholders to get the information from that point of contact. This situation is a little different, as the one I normally deal with is not really on the ball, still has not gotten me information for the 2019 return, etc. and basically runs the entire business. The other 50% shareholder would like to see the tax return, as I don't think they have access to much other information. Also is a brother-in-law, so don't think they want to rock the boat.
(iii) any bona fide shareholder of record owning 1 percent or more of the outstanding stock of such corporation,
(iv) if the corporation was an S corporation, any person who was a shareholder during any part of the period covered by such return during which an election under section 1362(a) was in effect, or
any bona fide shareholder of record owning 1 percent or more of the outstanding stock of such corporation,
(iv) if the corporation was an S corporation, any person who was a shareholder during any part of the period covered by such return during which an election under section 1362(a) was in effect, or
deniz wrote:I did the research on this for a 50/50 partnership.
I found that the information needs to be provided unless a partner tells explicitly tells you not to provide it. [ . . . ]
deniz wrote:Treasury Regulations Section 301.7216-2(e)(1)(iii)] of the Internal Revenue Code does not allow a tax return preparer to disclose tax return information to a related party when the first taxpayer has expressly prohibited its disclosure. A related taxpayer is defined in Regulations Section 301.7216-2(e)(2) as a partner in a partnership.
Nilodop wrote:That applies generally to government personnel, not to a regular tax practitioner.. No kidding? That's where he can get the copy.
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