IMGCAP(1)]Many CPAs are involved with estate planning and need to determine the assets and liabilities of a client. Clients often create limited liability companies for tax and creditor rights ...

The AICPA on Thursday sent a letter to the IRS with recommendations ... supplemental Form 8971 and Schedules A if nothing has changed from the original Form 8971 and Schedules A, the AICPA said.

Imagine getting an IRS form listing $10 million worth of property that was your late great uncle’s. At the bottom of the form (Form 8971 Schedule A), there’s a boldface “Notice to ...

The IRS announced that it is ... 6035(a)(3)(A), to file the form did not have sufficient time to adopt the systemic changes that would enable the filing of an accurate and complete Form 8971 and its ...