The Transcript Delivery System (TDS) Wage and Income Transcripts for Form 1120-S, Schedule K-1, Shareholder’s Share of Income, Deductions, Credits, etc., currently displays in error a zero for stock ownership percentages for tax years 2020 and 2021, the IRS announced Sept. 28. A fix is expected by early January 2023, the IRS stated. [Quick Alert for Tax Professionals: Wage and Income Transcripts Form 1120-S (Sept. 28, 2022)]
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