"Harlan Lunsford" wrote:

- quote -

Returns aren't subject to FOI requests, but rather must fit
other disclosure statutes. All requests go the same people
who fuss over which law applies, so requestors needn't
normally be bothered there. There is a fee: hours, plus
cents per page on all type requests. Where Form 4506 doesn't
fit, you write and tell IRS disclosure people what you want
and who you are.

Reg,
Fred F.

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TaxSrv wrote:

- quote -

Good information there Fred, and thanks. I remember
about...... 17 years ago, a client couldn't get that
information, IRS refused him.

But when you say use a "disclosure request", are you
speaking of a FOI request? And if so, doesn't that take
money?

ChEAr$,
Harlan Lunsford, EA n LA
Sun 20 Mar 2005

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- quote -

But section 6103(e) says disclosure is permitted, Harlan;
S-Corp - anybody on a K-1, C-Corp - 1% or more S/H. I
checked IRS' Manual on irs.gov, under disclosure, and for a
S/H it looks like they want you coming in with a disclosure
request, not merely Form 4506. For an S-Corp, you're
entitled to the full document (minus probable redactions,
like other S/H SSN's), under the Privacy Act alone. For
C-Corps, I can see a possible reason for not "advertising"
on Form 4506. A 1% institutional investor et.al. can obtain
an 1120 copy of some pretty big companies, and typically
containing lots more financial detail than required in even
SEC filings!

Fred F.

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TaxSrv wrote:
- quote -

I don't think so, Fred.

He referred to it as a "family business". This does not
mean its a partnership (in which case he could qualify to
receive the 1065, or a sub s corporation, in which case
it's "like" a parternship, but not a partnership, so I
don't know whether a shareholder could qualify to receive
copies of the 1120S.

If the family business is a corporation and he's not an
officer or director, but "just" a shareholder, I'm pretty
sure the answer is no.

ChEAr$,
Harlan Lunsford, EA n LA
Sat 12 Mar 2005

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"TaxSrv" <n3_eu[at]comcast.net> wrote:
- quote -

You can also see a lawyer, who will help you get copies of
everything to which you are entitled.

Stu

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"bingsell" wrote:

- quote -

You may obtain copies of the returns (at $39 each) by filing
Form 4506, available at www.irs.gov.

Fred F.

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bingsell wrote:

- quote -

this will NOT be legal advice, since I'm no lawyer, and
can't even practice law.

- quote -

Reasonable request

- quote -

Nothing.

- quote -

Not true.

- quote -

Not true, since you are furnished schedule k-1.

- quote -

I know of no "right". Perhaps if you were in any danger of
being held liable for acts of the business. BTW, Is this a
partnership really or a Subchapter S corporation? It would
seem to be that it is the latter, since you speak of
"shares".

- quote -

Not a matter for the IRS.

ChEAr$,
Harlan Lunsford, EA n LA
Tue 8 Mar 2005

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bingsell wrote:

- quote -

This is an OR law question. Most participants are not
qualified to answer this question. But generally minority
stock owners only have a right to be ignored.

--
Frederick E. Jorden http://Tax-Accounting-Payroll.com
7825 Midlothian Tpk - 207 Richmond, VA 23235-5247
EMAIL knowtax[at]bigfoot.com
(804) 320-6210 FAX (804) 320-6211

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I need legal advice. I am a part owner of a family business
in the state of oregon, usa. shares were issued to all
members of the family.

for over 7 years, I have requested that my family send me
copies of all the financial records of the family business
on an annual basis.

..when I say financial records, I mean annual tax returns,
balance sheets, income statements, etc..

for over 7 years, except for an occasional K-1 statement, I
have yet to see any financial records sent to me.

in fact, all members of the family have ignored me whenever
I have asked for access to all the records.

what can I do?

I spoke to a friend of mine who is a tax accountant, and he
said that what they are doing is against the law.

according to my tax accountant friend, their denial to
provide me with this financial information is preventing me
from filing accurate tax returns. is this true?

is it true that I have the legal right to receive copies of
all the financial records like tax returns, balance sheets,
income statements, etc. if I request it?

any info would be most appreciated. thank you.

if someone knows of any way via the internet that I can
contact an irs agent to ask them these same questions,
please do forward that info to me.

thanks again.

sincerely....

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