Changes in Corporate Control and Capital Structure
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Let our trained staff import your data from excel, print and mail, and electronically file on your behalf. We can help eliminate the stress of filing information returns by providing complete, secure outsourcing solutions for IRS Forms 1042-S, 1095, 1097, 1098, 1099, 3921, 3922, 5498, 8027, 8966, 8955-SSA and W-2G. Competitive pricing. Please call our sales office at (480) 460-9311 and they can provide an estimate of the cost. Stay compliant, reduce administrative costs and know that the job will get done right.
IRS Form 1099-CAP - Acquisition of Control, and Substantial Change in Capital Structure,
are two major developments in a company’s fiscal condition that require reporting for tax purposes.
An Acquisition of Control occurs when, subsequent to a transaction or series of transactions, one
corporation ends up with more than 50% ownership of stock (in all stock classes) in another corporation.
A change in capital structure involves the transfer of assets from one corporation to another due to
bankruptcy, or otherwise, a consolidation or merging of the assets of two companies. A change in corporate
identity, form or place of organization can also be considered a change in capital structure.
When a company undergoes changes in control or capital structure it is necessary for it to file a 1099-CAP form with the IRS. Copies of the form are then distributed to shareholders who receive cash or property benefits from the new structure.
Starting in tax year 2016, Form 1099-CAP is now a free fillable PDF form that you can download here
Form 1099-CAP is no longer a red-ink form.
If you have 250 or more 1099-CAP forms to transmit, then you must electronically file. Our 1099-CAP service bureau can import, print and electronically file Form 1099-CAP on your behalf. Just contact sales at (480) 460-9311 and they can let you know the cost.
Furnish Copy B of Form 1099-CAP to the shareholder by January 31. However, if the recipient is a clearing organized, Copy B can be furnished by January 5. Copy A must be paper filed by February 28th or electronically filed by the end of March.
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