Question
Do the total shares still need to be reported for an 1120-S?
One of the 2021 new requirements for an 1120-S was that total shares outstanding needed to be reported. Last month PS required that we complete that information.
However, now the total shares outstanding isn't required.
Did the IRS change that requirement when they changed the K-2 and K-3 requirement and I somehow missed that? I can't find the answer anywhere.
I have filed some 1120-S returns and didn't enter the total shares since it didn't pop up as an error. I didn't even think of the new requirement until now. Hope that won't be a problem for those returns already filed.
Thanks.
