Knowledge Base

10616: 8271 - Tax Shelter Form

1120 Corporation

Is Form 8271, Investor Reporting of Tax Shelter Registration Number, in Drake Tax software? 

Previously, Form 8271 was available in the 1120, 1120S and 1065 packages, but the form has been discontinued.

Per the IRS: 

"Before the enactment of the AJCA, section 6111 provided that tax shelter organizers were required to provide investors in tax shelters the registration number for the tax shelter. Section 301.6111-1T, Q&A 55, requires investors to report the registration number of the tax shelter to the IRS on Form 8271, “Investor Reporting of Tax Shelter Registration Number”, and attach the Form 8271 to any return on which any deduction, loss, credit, or other tax benefit attributable to the tax shelter is claimed. Because only a few investors must still file Form 8271 for pre-AJCA section 6111 tax shelters and because the IRS already is aware of these transactions, the IRS and Treasury Department have decided that investors are no longer required to file Forms 8271 otherwise due on or after August 3, 2007. The Form 8271 will be obsoleted. Taxpayers required to file Form 8886, “Reportable Transaction Disclosure Statement”, pursuant to §1.6011-4(d), and Form 8271 with respect to the same transaction only need to report the registration number on Form 8886."

Internal Revenue Bulletin: 2007-38


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