Form 965-C is used by eligible section 965(h) transferors and transferees to enter into a transfer agreement under section 965(h)(3) of the US Tax Code. This form requires specified information …
Form 8867: Paid Preparer’s Due Diligence Checklist
Form 8867 must be filed with the taxpayer’s return or amended return claiming the EIC, the CTC/ACTC/ODC, the AOTC, and/or HOH filing status. As a paid tax return preparer, you …
Form 720: Quarterly Federal Excise Tax Return
Form 720 is used by individuals liable for federal excise taxes to report quarterly obligations, who also have the option of claiming a credit via Schedule C. Those who receive …
Form 2555: Foreign Earned Income
U.S. citizens or residents living or working abroad must adhere to the same U.S. income tax laws that apply to citizens and residents living in the U.S. Foreign earned income, …
Form 1120-H: U.S. Income Tax Return for Homeowners Associations
A homeowners association can take advantage of certain tax benefits by filing Form 1120-H, which provides a flat tax rate of 30%-32% (depending on the type of association) and excludes …
Form 8869: Qualified Subchapter S Subsidiary Election
Parent S corporations use Form 8869 to elect to treat eligible subsidiaries as a qualified subchapter S subsidiary (QSub), resulting in a deemed liquidation of the subsidiary into the parent. …
Form 706-A: United States Additional Estate Tax Return
Qualified heirs must file Form 706-A to report the additional estate tax imposed for an early disposition of specially valued property or for an early cessation of a qualified use. …
Form 1125-E: Compensation of Officers
Form 1125-E is used by entities with total receipts of $500,000 or more to provide a detailed report of deductions for compensation of officers, and must be attached to the …
Form 720-CS: Carrier Summary Report
Bulk transport carriers must file Form 720-CS with the IRS to report monthly receipts and disbursements of liquid products at a designated storage location. Filing rules and requirements are outlined …
Form 6251: Alternative Minimum Tax – Individuals
Learn how to correctly file Form 6251 to calculate the alternative minimum tax (AMT) liability for taxpayers with higher economic incomes. Find out the latest on exemption amounts, tax brackets, …
Form 5471: Information Return of U.S. Persons With Respect To Certain Foreign Corporations
U.S. persons with officer, director, or shareholder roles in certain foreign corporations are required to file the Form 5471 and related schedules to satisfy internal revenue service requirements. What is …
Form 8898: Statement for Individuals Who Begin or End Bona Fide Residence in a U.S. Possession
Form 8898 is used by US taxpayers to notify the IRS when they have become or stopped being a bona fide resident of a US possession according to Section 937(c). …
Form 5329: Additional Taxes on Qualified Plans (including IRAs) and Other Tax-Favored Accounts
IRS has expanded the exception to the 10% additional tax for early distributions of certain retirement accounts, including for qualified public safety employees, correctional officers, and those with terminal illnesses. …
Form 8873: Extraterritorial Income Exclusion
With the repeal of the American Jobs Creation Act of 2004, taxpayers may still claim an ETI exclusion for certain transactions under a binding contract before 2005. This article provides …
Form 5330: Return of Excise Taxes Related to Employee Benefit Plans
With Form 5330, individuals and employers are responsible for reporting certain excise taxes, such as the tax-exempt entity’s involvement in a prohibited tax shelter transaction, the employer’s failure to meet …
Form 8889: Health Savings Accounts
Form 8889 is used to report Health Savings Account (HSA) contributions, figure out tax deductions, report distributions, and figure out income you must include and additional tax you may owe …
Form 5307: Application for Determination for Adopters of Master or Prototype or Volume Submitter Plans
This article introduces the various plan documents required by the IRS when completing applications for Retirement Determination Letters, such as Form 5307 or Form 5300, depending on the type of …
Form 8994: Employer Credit for Paid Family and Medical Leave
This article discusses the requirements for an employer to qualify for the employer credit for paid family and medical leave, including what constitutes a qualifying employee, written policy documentary requirements, …
Form 8881: Credit for Small Employer Pension Plan Startup Costs
This article covers the rules and qualifications for claiming the credit for small employer pension plan startup costs, as outlined in sections 45E and 45T. Eligible small employers may be …
Form 1041-N: U.S. Income Tax Return for Electing Alaska Native Settlement Trusts
Trustees of Alaska Native Settlement Trusts (ANSTs) need to file Form 1041-N to elect special income tax treatment for the trust and its beneficiaries in the first tax year. The …