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Axis Ubo Form

Axis Ubo Form

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what's going on Alex here and today we're gonna tackle form 7203 we're going to take a look at the form discuss what it's all about and take a look at a few examples of what can happen when form 7203 is not used properly or is omitted altogether the consequences can be pretty significant and with that let's dive in and take a look at IRS form 7203 and as you can see here this is a wonderful 2022 Edition before us I would dare say that it's a beautiful tax form but people tell me I've been doing this for way too long I need a vacation maybe they're right but as you can see the name of the form is S corporation shareholders stock and debt basis limitations big fancy name but at the end of the day what we're tracking is S corporation shareholder basis now if you're not an S corporation shareholder form 7203 will not apply to you but if you have an ownership stake in an S corporation then form 7203 may very wel

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