Section 6039 reporting is a complicated process. Corporations have to provide transaction statements to their employees who have acquired stock through a 423(b) qualified Employee Stock Purchase Plan (ESPP) or exercised an Incentive Stock Option (ISO). Corporations have to file Form 3921 for each ISO exercised and Form 3922 for each ESPP transaction. This is required by the Internal Revenue Service and failure to do so may incur consequences.
As a result of huge volume of data received for processing, potential for errors is high and therefore puts pressure on corporations for accurate and precise completion. Our team of 6039 reporting will simplify all of these, ensuring accurate and timely filing of the corporation’s tax return to meet deadline and avoid penalties.