Employers must furnish employees who exercised incentive stock options ("ISOs") or sold or otherwise transferred shares acquired under an employee stock purchase plan ("ESPP") during 2007 with a detailed information statement by January 31, 2008.

A requirement that corporations additionally file such information in a return with the Internal Revenue Service ("IRS") was added in 2006. However, because regulations providing guidance on this new reporting requirement have yet to be issued, the obligation to file an information return with the IRS has been temporarily waived. The IRS still plans to issue regulations regarding the reporting requirement and the regulations may be effective retroactively to January 1, 2007. Note, however, that employers must continue to supply employees with the required information statements.