CPAs should read the detailed instructions in this announcement for changes in the following forms: 1997 Form 1099-DIV, Dividends and Distributions; 1997 Form 1099-B, Broker and Barter Exchange Transactions; 1996
Form 2439, Notice to Shareholder of Undistributed Long-Term Capital Gains, for 1996-97 fiscal years ending after May 6, 1997; and 1996 schedules K and K-1 for partnerships, S corporations and estates with 1996-97 fiscal years ending after May 6, 1997.
Con artists were telling taxpayers they could file
Form 2439, Notice to Shareholders of Undistributed Long-Term Capital Gains, to collect up to approximately $40,000 in reparations, and the IRS was receiving thousands of requests daily for
form 2439.