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New tax filing requirement for stock option plans and new questions on 2011 returns

Heading into the 2012 filing season, you should be aware of some changes that could result in penalties if not properly observed. Also, be prepared to reveal even more financial details as the IRS continues to request more and more data through not only the tax return process, but also information reporting. 

Jan. 31 due date for companies with
employee stock options
Corporations have until Jan. 31 to meet the filing requirement surrounding employee stock options. All companies that transfer shares of stock under an incentive stock program are required to file Form 3921 for each transfer during the year. If an employee completes two incentive stock option (ISO) transactions during the calendar year, two separate Form 3921s are required to be filed; only one transaction per form is permitted.

Continue: What information is required on the disclosure for? >