By Stephen J. Olsen — On July 31, 2015, HR 3236, Surface Transportation and Veterans Health Care Choice Improvement Act of 2015 (the “Act”), was signed into law. Section 2004 of the Act enacted new Sections 1014(f) and 6035(a)(1) of the Internal Revenue Code of 1986, which require basis reporting of property acquired from a decedent. Earlier this week, the IRS released Form 8971, Information Regarding Beneficiaries Acquiring Property From a Decedent, intended to implement this mandate. The form can be found here. The instructions for the form can be found here.