TDS Wage and Income Transcripts; Form 1120-S

Dear IVES participants,

We have been informed of a concern relating to the Form 1120-S Schedule K-1, Shareholder's Share of Income, Deductions, Credits. The Transcript Delivery System (TDS) Wage and Income transcript is displaying an incorrect stock ownership percentage of zero for tax years 2020 and 2021. While corrective action is in progress, the expected resolution will be January 1, 2023.

IVES Participants should be aware of this programming concern when requesting Form 1120-S transcripts. Transcript requests will not be held and cannot be credited due to this programming concern.

Thank you,

IRS IVES Team

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