Form 6118: Claim for Refund of Income Tax Return Preparer and Promoter Penalties
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Form 6118: Claim for Refund of Income Tax Return Preparer and Promoter Penalties

Form 6118 is an Internal Revenue Service form used by return preparers to make a claim for refund of any overpaid penalty amount. This form outlines penalties A, B, I, J, K, L, and M, directs the taxpayer on where and when to file the form, outlines specific instructions for filing, and explains related Laws and Regulations.

What is Form 6118?

Form 6118 is a claim for refund of tax return preparer and promoter penalties under penalties A, B, I, J, K, L, and M, which need to be filed separately as needed. Specific instructions for filing include providing an identifying number, the type of penalty, and additional information to support the claim such as penalty statements, reasons for claiming a refund, and potentially other paperwork as indicated in the regulations. The document must be filed with the IRS service center or IRS office that sent the statement and must be done so within two or three years of paying the penalty in full.

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IRS Form 6118 – Who Needs to Fill It Out?

Form 6118 is used to request a refund of certain penalties paid by tax return preparers and promoters. This form must be filed with the IRS service center or IRS office that sent the statement(s). You must pay 15% of the penalty within 30 days of the date of notice and demand if you wish to file a refund claim. For penalties under sections 6700 and 6701, you must file within 2 years, and for penalties under sections 6694 and 6695, 3 years must pass from the date you paid the penalty in full. You must provide your social security number if you are self-employed or employed, and your employer identification number if you are the employer. In addition to filling out the form, you must provide your reasons for claiming a refund.

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Step-by-Step: Form 6118 Instructions For Filling Out the Document

Completing Form 6118 is a simple, step-by-step process. First, identify the type of penalty you are claiming. Depending on the type of penalty, different sections will need to be completed. Next, submit the form to the IRS service center or office that sent you the penalty statements. Finally, attach a copy of the penalty statements and any additional sheets that need to be filled out to your claim. Write your name and identifying number on each sheet. Follow the directions above to accurately fill out the form and make sure your refund is processed correctly.

Below, we present a table that will help you understand how to fill out Form 6118.

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Information Required for Form 6118 Details
Penalty Type Identify the type of penalty you are claiming
Submission Submit the form to the IRS service center or office
Attach Documents Attach penalty statements and additional sheets

Do You Need to File Form 6118 Each Year?

Forms 6118 are used by return preparers to make a claim for a refund of any overpaid penalty amount. Depending on the type of penalty assessed, Form 6118 must be filed separately for each penalty within two to three years of payment in full. When filing, attaching copies of any penalty statements and giving clear reasons for the refund claim is important. For additional instructions, see Regulations section 1.6696-1. Taking into consideration individual circumstances, it will take an estimated average time of 49 minutes to complete and file the form.

Download the official IRS Form 6118 PDF

On the official IRS website, you will find a link to download Form 6118. However, to make it easier for you, we are providing the link in our article, which comes directly from the official irs.gov website! Click to download: Form 6118 and get started on your taxes today!

Sources:

https://www.irs.gov/forms-pubs/about-form-6118

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